Istanbul, August 21: Turkey President Recep Tayyip Erdogan on Friday announced the discovery of large natural gas reserves off the Black Sea coast. Turkey has found 320 billion cubic meters (bcm) of natural gas in the Black Sea’s Tuna-1 zone. The announcement came a days after Erdogan promised “good news” that would bring a “new era” for the energy development in the country. Iran, Turkey Lash Out at UAE Over Agreement With Israel, Accuse Emirati Govt of Betraying Palestine.

Turkey was carrying out exploration activities in the region since a long time. The Turkish President made an announcement at 3 pm local time on August 21. Erdogan credited Finance Minister Berat Albayrak for the discovery. Notably, Albayrak was the energy minister between 2015 and 2018 when Turkey began carrying exploration activities. The Turkish President also thanked Albayrak and current Energy Minister Fatih Donmez for the discovery.  Turkey Discovers Large Natural Gas Reserve off Black Sea.

The Turkish discovery comes at a time when the country is engaged in territorial disputes with Greece and Cyprus in the eastern Mediterranean. Turkey is actively searching for oil and gas in the contested waters. According to reports, France has also increased its military presence to ward off Turkish movement.  The European Union also planned an emergency meeting in September to discuss the situation.

(The above story first appeared on LatestLY on Aug 21, 2020 08:47 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).