:quality(80)/cdn-kiosk-api.telegraaf.nl/1ff29544-e3df-11ea-996f-02d1dbdc35d1.jpg?fit=%2C&ssl=1)
Turkey expects to extract the first gas in 2023. The gas bubble could provide the Turkish economy with sufficient fuel for at least twenty years. The new stock could also become a significant source of income for the Turkish treasury.
In response to the confirmation, shares of Turkish energy companies went up on the stock exchange. The Turkish lira currency also rebounded against other currencies.
The gas find by the drillship Fatih, which has been conducting polls since July, was reported by two sources in recent days, but was confirmed by Erdogan on Friday as ‘good news’. He announced a ‘new period’ in Turkey’s history. “These reserves are part of a much larger resource. If God wills, much more can come. ”
Turkey is dependent on foreign countries for much of its energy. Last year, $ 41 billion was imported from Russia, Iran and Azerbaijan.
Billions needed for exploration
According to reports, this find involves at least 320 billion cubic meters of gas off the coast in the exploration zone Tuna-1, issued by the Turkish state, around 150 kilometers offshore in the Black Sea.
That gas is not yet surfaced quickly: it would take seven to ten years to get the gas bubble connected to the network to the coast. The cost of extracting the gas could be as much as $ 3 billion, according to estimates by energy experts.
In recent days there has been a confrontation elsewhere between Greek and Turkish warships. A Turkish frigate accompanying the Turkish research vessel Oruc Reis in the Mediterranean was hit by a Greek ship. Athens disputes Turkey’s claimed rights to search for oil and gas between Crete and Cyprus.
The latest confrontation sparked warnings from the European Union not to let it escalate.
In response to the Black Sea gas discovery, Erdogan said he would not stop exploration elsewhere until the country could be a net exporter of energy such as gas. Erdogan promised on Friday to continue his search in the Mediterranean Sea ‘reinforced’. Turkey also has exploration ship Kanuni in-use to find energy sources.
–
