President Recep Tayyip Erdogan says the reserve is actually part of a much bigger source.
If the gas can be commercially extracted, the discovery could help Ankara cut its current dependence on imports — from countries such as Russia, Iran and Azerbaijan — for a substantial amount of its energy needs. The Fatih drill ship began work late last month in the Tuna-1 zone, about 100 nautical miles north of the Turkish coast in the western Black Sea. All tests and engineering work has been completed, Erdogan said.
Any reduction in Turkey’s energy import bill, which stood at US$41 billion last year, would boost government finances and help ease a chronic current account deficit which has helped drive the lira to record lows against the dollar.
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