Read on Twitter
Erdogan holds special news broadcast to announce "good tidings," he promised 2 days ago. No surprises, he starts speaking of global need for energy sources. After he then announces the huge news: historical massive natural gas source found in Black Sea, 320 billion metric cubes.
His aim is to have Turkey completely independent of natural gas sources, which will start being produced in 2023, marking the hundredth anniversary of the Republic--for him a symbolic year for the establishment of the "New Turkey," which will bring Turkey to a major world power.
This press conference also showered praise on Berat Albayrak the Finance Minister who is under attack for the poor economic state affairs. He is live in the Black Sea with the Minster of Energy Affairs on the ship "Fatih" [the Conqueror] that was responsible for finding source.
![This press conference also showered praise on Berat Albayrak the Finance Minister who is under attack for the poor economic state affairs. He is live in the Black Sea with the Minster of Energy Affairs on the ship "Fatih" [the Conqueror] that was responsible for finding source.](https://pbs.twimg.com/media/Ef8briyXgAAxzVv.png "This press conference also showered praise on Berat Albayrak the Finance Minister who is under attack for the poor economic state affairs. He is live in the Black Sea with the Minster of Energy Affairs on the ship \"Fatih\" [the Conqueror] that was responsible for finding source.")
The Turkish Lira strengthened to 7.21/1US$ during morning before Erdogan's press conference and once news of massive natural gas resource was revealed it lost its gain dropping to 7.31. Perhaps since it was rumored that that a much larger natural gas resource was to be announced.
Prof. @GKumbaroglu--Chair of Energy Economics, speaks positively on natural gas find in Black Sea, comparing it to Israel's natural gas ventures in Mediterranean and believes Erdogan's goals of producing it by 2023 are reasonable. He also points out other gas fields could emerge.
Comparison w/Israel is helpful: @GabiAMitchell points out: The Black Sea reserve is a "significant discovery, but size is always relative. 320 bcm isn’t huge by global standards. Leviathan estimated around 600 bcm, Zohr around 850 bcm. Turkey consumes around 43 bcm annually."
In sum: No one can't underestimate the importance of Turkey's discovery of natural gas in the Black Sea as its a country dependent on energy sources. However cost of extracting, its limited size (for now)+other issues remain. While its huge news (!!) it's certainly not a miracle.
And, let's remember that natural gas reserves are not found by one political party or the other. Thus this find is one that will benefit all of Turkey-and in the great scope of things will not change much politically, at least for now. Thus great response: https://twitter.com/imamoglu_int/status/1296800028900687873?s=20
