Is the latest gas discovery going to change the future of Turkey?
A few days ago Turkey has announced its largest-ever natural gas reserve in the Black Sea with a capacity of 320 billion cubic meters. The new gas field could start producing in 2023. According to energy expert Mithat Rende, the recent discovery will provide Turkey a more powerful position in future negotiations, especially with Russia and Iran. Rende has said that “Turkey is a major gas importer. It is one of the fastest-growing energy consumers.” On the other side, analysts have already warned that there is a lot of unknown. Due to the depth of the Black Sea, extraction could be challenging and expensive, with high production costs.