Erdogan prepares to announce huge reserves of oil and gas found

By | August 20, 2020
Erdogan prepares to announce huge reserves of oil and gas found

Turkish President Recep Tayyip Erdogan announced that soon he will announce important information for the whole country. The Turkish leader made such a statement during the opening ceremony of the Kalyon plant in Ankara, where both components for solar panels and ready panels will be produced, Reports Turkish TV channel Haber7.

On Friday (August 21, 2020 – Ed.) we will announce our nation with an extremely happy message. This will usher in a new era in Turkey

Erdogan promised.

Intriguing words of the president caused a stir in Turkey, many residents of the country are looking forward to the promised speech, but Turkish experts already guess what Erdogan can tell. They assume that the president is preparing to announce the found huge reserves of oil and gas near Turkey. It is not surprising that after that the shares of petrochemical companies rose sharply in price.

According to experts, only 5% of the Mediterranean gas reserves can meet The growing needs of Turkey for the next 70 years. But none of them knows for sure what is found and in what volumes. Moreover, it is not known which sea we are talking about: Black, Aegean or Mediterranean.

The head of the Energy Economics Association, Professor Gurkan Kumbaroglu, explained that the Mediterranean and Black Seas are potentially rich in oil and gas. He believes that the new deposit is discovered either in the western part of the Black Sea or in the Eastern Mediterranean. The expert drew attention to the note that Turkey did not invite foreign firms for exploration and drilling, but used the courts of its national company.

Kubaroglu specified that gas can be found if the oil is detected, so there is a possibility of detection of both. At the same time, long-term contracts for the supply of pipeline gas to Turkey are coming to an end in 2022. Consequently, Ankara itself can become a gas exporter if the information about the discovery of a large deposit is confirmed.