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BREAKING: Turkey reportedly discovers natural gas in the Black Sea

Turkey reportedly found natural gas in the Black Sea, wrote Bloomberg on Wednesday. Anonymous sources told Straturka that the gas was found in Tuna-1 location in Kıyıköy . The news came after Erdogan said he will announce good news on Friday. If true, the discovery comes at a time of tensions between Turkey and Greece in the East Mediterranean region. Turkey has long been conducting energy exploration operations with four drill-ships in its seas.

A likely exploarition will rescue Turkish economy from FX crisis that has put heavy burden on it. Turkey has a current account deficit due to oil and natural gas imports. In a scenario in which Turkey supplies its energy products domestically, its economy will have a surplus, making fluctuations in FX markets ineffective. The exploration will also bring the economy to the surface at first stage and then boom it in the aftermath.


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