ISTANBUL: President Recep Tayyip Erdogan said Friday that Turkey had made a historic discovery of a fuel box in the Black Sea, but that it would still drive debatable exploration in the Mediterranean facing Greece and the European Union.
EUREKA’s Turkish President, Recep Tayyip Erdogan, announced that his navigation ship Our Fatih had discovered some 320 billion cubic meters of fuel tank, the largest in nearly a hundred years, in the Black Sea. GLOBAL TIMES PHOTO
Turkey hopes the discovery can get rid of imported energy, adding from Russia, which has a maximum cost at a time when the local currency is weakening and the economy is more fragile due to the coronavirus.
Erdogan said the discovery of 320 billion cubic meters on the surface of the sea took place at a site that Turkish shipping Our Fatih began exploring last month.
He added that he hoped to see the first fuel succeed among Turkish consumers in 2023, the centenary of the birth of the fashionable republic. “Turkey has made the biggest discovery of herbal fuel in its history in the Black Sea,” Erdogan said. joyful speech at dolmabahcae Palace in Istanbul.
“My lord has opened the door to us with wealth, ” he rejoiced. Fatih, Turkey’s first drilling ship, is named after Fatih Sultan Mehmet, the Ottoman sultan who conquered Constantinople, present-day Istanbul, in 1453.
The shipment made the discovery at the Tuna-1 box off the coast of the city of Eregli, in the northern province of Zonguldak, after starting the search on July 20, Erdogan said.
The Turkish lira gained a price against the dollar for Erdogan’s promise Wednesday to report “good news” on Friday, but fell after the duration of the discovery less than the part that was warned in the initial reports.
Analysts also hesitated to overestimated the importance of discovery, noting that deepwater drilling is related to time and time. “There’s reason to be cautious,” said Jason Tuvey, capital Economics’ senior emerging market economist.
“On the one hand, it will take time for the infrastructure to be in position before fuel can be extracted,” he said in a study note. Tuvey added that “strengthening Turkey’s external position can only be temporary. “
Ozgur Unlu Hisarcik, Ankara director of the German Marshall Fund, tweeted that discanopyy “isn’t bad at all [but] it’s not a replacement for the game either. “intake rates.
Turkey’s finance minister and Erdogan son-in-law Berat Albayrak, speaking aboard Our Fatih, said discovery and possible long-term discoveries can reduce the import balance of Turkey’s heavy industry by reducing its main energy import bill.
Turkey’s energy imports account for 2% of last year’s overall economic output, according to Capital Economics, with maximum purchases from Russia, Iran and Iraq.
Turkey’s Energy Market Regulatory Authority said in January that the country’s annual energy charge imports between $12 billion and $13 billion (10. 2 to 11. 1 billion euros).
This month, Erdogan ordered the resumption of debatable energy exploration on the south coast, near a Greek island in the disputed waters of the eastern Mediterranean.
You have effectively joined our subscriber list.