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    Turkish Economic News, Infastructure and Projects

    kvs
    kvs

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    Post  kvs on Thu Jul 04, 2019 4:26 am

    ATLASCUB wrote:The Turks should have been pursuing China much harder a longgggggggg time ago and drop the stupid Uyghurs nonsense a long time ago - an irritant that ONLY benefits one big fat state and its true allies... of which Turkey isn't one. Erdogan had been too slow on this, one of his many missteps.

    Not surprisingly, the Anglo media hasn't taken it kindly what's been developing in Beijing today (which means they purposefully put the word out). Makes the S-400 July drop even more tantalizing in terms of political drama. If you're getting encircled and trapped by the U.S and its local minions why would you have irritants in your relations with the second biggest economy on the planet. Made no sense.

    Especially considering that the Uyghurs are being radicalized by Wahabbi infiltrators and are working against their own interests.
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    ATLASCUB

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    Post  ATLASCUB on Fri Jul 12, 2019 9:54 am

    And the crazy begins on this pivot state.

    Interesting times.
    JohninMK
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    Turkish Economic News, Infastructure and Projects - Page 2 Empty Not strictly TurkStream

    Post  JohninMK on Wed Aug 19, 2020 10:39 pm

    If correct this could have a huge impact in the ME.

    Spriter
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    Turkey found natural gas in the Black Sea region, including two of magnitude seriously. Erdogan will announce the details on Friday.






    EDIT Thanks for the magic move to the correct thread Smile
    JohninMK
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    Post  JohninMK on Thu Aug 20, 2020 12:07 am

    A bit more.

    Turkey has discovered energy in the Black Sea, most likely natural gas, two people with direct knowledge of the matter said Wednesday, but gave no indication of the size and depth of the find, nor how difficult it will be to extract.

    The two spoke after President Recep Tayyip Erdogan promised to deliver Turks “good news” on Friday that would usher in a new era for the nation. He has also vowed to pursue energy exploration in contested Mediterranean waters that has triggered rows with the European Union. The president’s office declined to comment.

    The lira extended gains against the dollar after the news and was trading 1.2% stronger late Wednesday local time. The benchmark Borsa Istanbul 100 Index also rose 3% after Erdogan spoke, while shares of refiner Turkiye Petrol Rafinerileri AS, or Tupras, and petrochemical manufacturer Petkim Petrokimya Holding AS jumped 7.6% and 9.9% respectively.

    Energy Minister Fatih Donmez said last month that the drilling ship Fatih had started exploration in the so-called Tuna-1 zone, off the Turkish town of Eregli.
    relates to Turkey Finds Energy in Black Sea as Erdogan Vows a New Era

    “There have been gas discoveries in the Black Sea before but of a limited scale,” Timothy Ash, a strategist at BlueBay Asset Management LLP in London, said on Twitter. “Given its $35-50 billion annual energy import bill, Turkey needs something big to be a game changer.”

    Market upheaval has sent the lira to a record low against the dollar, but the central bank has opted to tighten policy by stealth, avoiding a change in the benchmark interest rate that could irk Erdogan, who continues to call for lower borrowing costs. The central bank’s policy committee meets on Thursday to consider rates.

    Tuna-1, some 150 kilometers from Turkey’s coast, is close to an area where maritime borders of Bulgaria and Romania converge and not far from Romania’s Neptun block, the largest gas find in the Black Sea in decades discovered eight years ago by Petrom and Exxon. The Fatih has been carrying out drilling operations in Tuna-1 area since around mid-July according to a Turkish Navy website.

    Romania has shallow-water gas projects, but a major deep-water find by OMV Petrom SA eight years ago has still to be exploited. A company backed by the Carlyle Group is also exploring off Romania, aiming to get gas in 2021. Rosneft has explored in the Russian part of the Black Sea but without concrete results.

    “I don’t think it is that surprising more findings coming from there,” said Christoph Merkel, managing director of Merkel Energy consultancy. “Bulgaria, Ukraine, Greece might be among the ones very interested in buying that gas, if Turkey decides to export it.”

    “Depending on the size of the discovery, I expect at least a tranche of TurkStream to be idle,” he said. “Why would Turkey want to keep importing gas from Russia?”

    Gas giant Gazprom PJSC opened the TurkStream pipeline under the Black Sea to increase its market share in Turkey and reduce Russia’s dependence on Ukraine as a transit route


    https://www.bloomberg.com/news/articles/2020-08-19/turkey-discovers-energy-in-black-sea-as-erdogan-vows-new-era

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