TOPLINETurkish president Tayyip Erdogan said on Friday that Turkey had discovered its largest-ever deposit of natural gas in the Black Sea, a move that could help the country reduce its dependence on energy imports from other countries, including Russia. The natural gas find comes amid heightened regional tensions. Turkish Presidency/Murat Cetinmuhurdar/Handout via Getty Images Getty ImagesKEY FACTSPresident Erdogan announced on Friday that Turkey made an historic discovery, finding a natural gas field holding 320 billion cubic meters in the Black Sea. If the natural gas reserve can be commercially extracted, it could help the country reduce its energy dependence on imports from countries such as Russia, Iran and Azerbaijan. Industry analysts said the sum of natural gas was notable, but not a “game-changer” that would materially alter Turkey’s finances or turn it into a regional energy hub.

Source: Forbes August 21, 2020 15:40 UTC