TURKEY’S GAS DISCOVERY
The discovery of a large natural gas reserve off the Black Sea coast could alleviate Turkey’s economic woes. Though unlikely to propel it to the status of a regional energy hub, it could lessen Turkey’s reliance on Iran and Russia for energy while giving its economy a welcome boost. If confirmed as recoverable, this gas discovery is certainly welcome news for a country whose energy imports last year totaled around 35 billion euros. The discovery comes as tensions between NATO allies Turkey and Greece are running high over oil and gas exploration in disputed waters in the eastern Mediterranean.