Black Sea Gas Find Strengthens Turkey's Hand Against Greece



By Sinan Ulgen (Bloomberg Opinion) — An important development has been lost amid the growing alarm over the contretemps in the Eastern Mediterranean: Last month President Recep Tayyip Erdogan announced a major natural gas discovery off Turkey’s other coast, in the Black Sea. The finding was estimated at 320 billion cubic meters, and there is a strong expectation that the figure will be revised upwards as a result of additional exploratory drilling. The finding has implications for Turkey’s energy balance and energy security — and for its stance in the Eastern Mediterranean confrontation with Greece. As a country poor in hydrocarbon resources, energy imports...

Full Article