Further discoveries to be had in the Black Sea will strengthen Turkey’s economic case, conditional as well on the interplay between domestic demand and the nature of global energy supply.
The weight of critical introspection on the discovery, fair or otherwise, should not overshadow the fact that Turkey has discovered natural gas in the Black Sea, and that for a country that has had to be so dependent on external imports, any development that helps alleviate such a condition is good. There is of course a process, and a litany of moving pieces need to come together to ensure that the gas is brought to market in a competitive fashion. Further discoveries to be had in the Black Sea will strengthen the economic case, conditional as well on the interplay between domestic demand and the nature of global energy supply. This policy outlook explores some of the critical questions at stake going forward.
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