Turkey discovers large natural gas reserve off Black Sea

If the gas can be commercially extracted, the discovery could transform Turkey’s dependence on Russia, Iran, and Azerbaijan for energy imports. The country can also save US$ 41 billion in energy import bills and ultimately become a net energy exporter.

Many analysts have cautioned that it could take up to a decade for gas from the Black Sea find to come online, and would need billions of dollars in investments to build up the infrastructure for production and supply.