Turkey Makes $30 Billion Natural Gas Discovery in the Black Sea

Recep Tayyip Erdogan

Photographer: Alessia Pierdomenico/Bloomberg

Turkey has discovered 75 billion cubic meters of natural gas worth $30 billion dollars in the Black Sea, according to President Recep Tayyip Erdogan.

During a speech in Istanbul on Saturday, Erdogan said the discovery was made after 49 days of drilling at the Goktepe 3 field in Sakarya and will meet residential demand for 3.5 years.