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    Eyes of world's giants on Turkiye: Billions dollars deal rejected

    January 20, 2023 - AzerNEWS


      As Turkiye is heading towards becoming the world's energy base, the natural gas reserves of 710 billion cubic meters in the Black Sea have changed all the balances. Previously, a number of countries, such as the USA, England, and Canada have offered Turkiye to jointly explore and operate the gas reserves in the Black Sea. This time, Turkiye is faced with another major offer from a different world giant energy company.

      With the revaluation activity of the world's most competent and reliable reserve company DeMac, the economic size of the reserve was revealed more clearly.

      According to Sabah news, one of the world's energy giants dominating the global energy sector offered Turkiye half of the current discovery's market value in cash. In return for this money, the company requested to conduct all exploration, extraction, and natural gas sales operations in the Black Sea together with Turkiye, but the offer was rejected.

      Speaking about the reasoning behind the rejection, the officials said that "the issue is not primarily about making money. The issue is to ensure complete independence in energy, which we see as a national security issue". The official noted that Turkiye will extract and sell its natural gas by itself.

      Efforts are underway to bring 710 billion cubic meters of natural gas, worth $1tr, discovered by Turkiye's first drilling vessel Fatih in the Amasra-1, Tuna-1, and Caycuma-1 wells, to the gas storage facility in Filyos, Zonguldak, to full speed. Natural gas will be supplied to residential buildings by March, then Turkiye will consume domestic natural gas.

      Today, Turkiye has a giant hydrocarbon exploration fleet of 6 ships, of which 4 are drilling vessels, including Fatih, Kanuni, Yavuz, and Abdulhamid Han, and 2 are seismic research vessels, including Barbaros Hayrettin and Oruç Reis. With this fleet, Turkiye is one of the five countries in the world with the ability to explore and extract hydrocarbons.


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