'The monetisation of the discovery, albeit in three to four years, would give Turkey a significant advantage in the talks over the main gas/LNG suppliers, namely the US and Russia.'
On Friday, Turkish President Recep Tayyip Erdogan announced the discovery of 320 billion cubic meters of natural gas in the Black Sea. Turkey hopes that it will bring decisive advantages in the energy, economic and political sectors.spoke about this with the energy and geopolitics expert, Suha Cubukcuoglu. He is a member of the advisory board of the Maritime Forum of Koc University in Istanbul.Turkey has discovered 320 billion cubic metres of natural gas in the Black Sea.
The monetisation of the discovery, albeit in three to four years, would give Turkey a significant advantage in the talks over the main gas/LNG suppliers, namely the US and Russia. The main ramification is to reduce Turkey’s energy dependence on Russia. There is, therefore, a fine balance between long-term contracts with Russia, Central Asian imports in Turkey's energy mix and LNG supplies from the US, Middle East and Africa. On the one hand, Russia's weight in Turkey's energy policy is shrinking in the gas market.
As the case in the USA, for example, shows, renewable energy technologies are not the best way to achieve the ideal energy supply. In other words, an optimal mix of nuclear energy, hydrocarbons and geothermal energy is needed to meet modern requirements. Also important is to purchase equipment, machinery, and pipeline/liquefaction technology to transport and export gas. These are crucial areas that presumably TPAO has already laid out plans to address in the near term.At least initially, the new energy will be primarily accessible to the domestic market.
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