Turkey's Energy Minister, Fatih Donmez, announced that the country will begin delivering gas from its offshore reserves to households in May, with state-run energy importer BOTAS distributing the gas once checks are completed. The move is expected to meet household needs for the next 35 years.
Ahead of general elections on May 14, President Recep Tayyip Erdogan may offer discounts on utility bills, with Donmez saying that Erdogan will announce "good news" on April 20. Electricity and heating bills, despite government subsidies, have taken a toll on Turkish households and businesses, and Erdogan has promoted energy finds as a solution to Turkey's economic vulnerabilities.
The country imports 30% of its $350 billion import bill, and Russia supplies around a third of Turkey's natural gas needs. Turkey has discovered 710 billion cubic meters of natural gas reserves in offshore fields, mainly in the Sakarya field, which is worth $500 billion based on current market prices, according to the Energy Minister.