Highlights Turkey open to transiting gas from new sources to Europe Additional gas could come from handful of countries Options seen for gas from Turkmenistan, Iran, Iraq, East Med Russia’s Continue Reading
Moody’s cites inflation, lira devaluation, unorthodox policy Turkey’s rating was cut deeper into junk by Moody’s Investors Service as balance-of-payments risks mount and authorities struggle to stabilize the lira and Continue Reading
Turkey’s President Tayyip Erdogan and Russia’s President Vladimir Putin agreed on Friday to bolster cooperation after a four-hour meeting, a joint statement from the two nations has revealed as cited Continue Reading
Russia’s Rosatom has awarded TSM Enerji the contract to undertake the remaining construction work at the $20 billion nuclear power plant it is building in Akkuyu in southern Turkey, the Continue Reading
Tourists and locals on the waterfront in Istanbul, Turkey. Fitch Ratings downgraded Turkey’s sovereign debt rating further into junk, saying the government’s policies are contributing to “spiralling inflation” and discouraging Continue Reading
Pedestrians in a shopping zone in the Kizilay district of Ankara. Sign up for our Middle East newsletter and follow us @middleeast for news on the region. Turkey’s inflation accelerated Continue Reading
All parties agreed to suspension in advance’: Gazprom Suspension comes amid major European supply disruptions Bulgaria received gas via TurkStream prior to April 27 cut-off Russia’s Gazprom said June 18 Continue Reading
Turkey will ramp up gas production at its flagship Black Sea project as much as a year faster than previously planned, according to President Recep Tayyip Erdogan. Daily output at Continue Reading
Turkey raised natural gas and power prices on Wednesday and its energy importer blamed a “perfect storm” in global markets, feeding into an inflationary surge in the country that likely Continue Reading
Food prices are expected to rise an annual 49% through December. Sign up for our Middle East newsletter and follow us @middleeast for news on the region. The Turkish central Continue Reading
Turkey buys over 7 mil barrels of Urals crude in March Urals flows also redirected to Asia, mainly China & India Russia’s flagship Urals crude has been shunned by its Continue Reading
A Turkey-Israel gas pipeline is being discussed behind the scenes as one of Europe’s alternatives to Russian energy supplies, but it will take complicated maneuvering to reach any deal, government Continue Reading
Turkey will continue to buy Russian oil and hopes sanctions on Iran are lifted, bringing additional supplies to meet global demand, Energy Minister Alparslan Bayraktar said on Tuesday. Turkey relies Continue Reading
Turkey is interested in resuming talks with Israel about using Israeli natural gas and transporting it to Europe, Turkish President Recep Tayyip Erdogan said on Friday, as carried by the Continue Reading
A disruption to natural gas imports from Iran has caused an unprecedented level of power cuts in Turkey. The power cuts have largely impacted major industrial zones, with some companies Continue Reading
Turkey threatened to block any unauthorized search for gas and oil in its economic exclusive zone in the eastern Mediterranean after Cyprus awarded hydrocarbon exploration and drilling rights in its Continue Reading
Anxious Turks struggled to keep up with a bewildering collapse in their currency and the main opposition party leader said the country was experiencing its darkest “catastrophe” as the lira Continue Reading
Turkey may renew a natural gas deal with Russia with an increased amount from the beginning of 2022, Energy Minister Fatih Donmez said on Thursday. Speaking at a summit via Continue Reading
Geopolitics, Politics & Conflict Turkey is one of the biggest natural gas importers in Europe and now finds itself in a difficult position where it has to buy more gas Continue Reading
Turkey’s state-owned energy company TPAO has applied for a license to explore crude oil in the eastern Mediterranean, the Turkish Energy Ministry said in a statement in the country’s Official Continue Reading
Follows upgrade to Black Sea gas reserves to 540 Bcm First phase of production targets 10 million cu m/d by 2023 ‘Positive signs’ from East Med wells to date Turkey’s Continue Reading
The discovery of oil in three new wells in Turkey will add significantly to the country’s output, following Turkey’s biggest ever gas discovery just last year. Turkey’s energy sector is Continue Reading
Turkey logged 340 coronavirus-related deaths and 25,980 new cases in the last 24 hours, Health Ministry data showed on Sunday, the third day of a nationwide lockdown, including curfews, closed Continue Reading
Turks will be required to stay mostly at home under a nationwide “full lockdown” starting on Thursday and lasting until May 17 to curb a surge in coronavirus infections and Continue Reading
Turkey has approved the development plan for the long-anticipated “Kanal Istanbul,” a ship canal that would connect the Black Sea with the Sea of Marmara, aimed at easing tanker and Continue Reading
Ever since the attempted coup in Turkey of 2016, Ankara has become more assertive regarding its near abroad foreign policy. With the rise of the AKP in the early 2000s, Continue Reading
Turkey’s energy import bill has been a major drag on its economy for decades. In 2019, the country imported $41 billion worth of energy among which 45 billion cubic meters Continue Reading
European Union leaders early Friday gave the green light for the expansion of sanctions against Turkey over its exploration of gas reserves in Mediterranean waters claimed by EU members Greece Continue Reading
Turkey has halted survey for oil and gas in the Mediterranean and had its survey vessel back to a Turkish port, days before European Union leaders are set to discuss Continue Reading
After announcing a major natural gas discovery in the Black Sea earlier this year, Turkey has started drilling for gas at a second location in the sea, Turkish Energy and Continue Reading
Turkey has added a further 85 Bcm to the size of the reserves at its giant Black Sea Sakarya gas field, bringing the total to 405 Bcm. Not registered? Receive Continue Reading
Turkey has resumed survey activities for oil and gas in disputed waters in the eastern Mediterranean in a move reigniting the tension with its neighbors and EU members Greece and Continue Reading
ATHENS, Greece (AP) — Greece accused neighbor Turkey of undermining efforts to ease a crisis over eastern Mediterranean drilling rights Monday, after Ankara redeployed a survey vessel for new energy Continue Reading
Turkey is about to revise up the estimate of its natural gas discovery in the Black Sea, Bloomberg reported on Friday, quoting sources with direct knowledge of the plans. In Continue Reading
The severity of Turkey’s coronavirus outbreak was called into question after the government acknowledged it wasn’t counting asymptomatic cases, triggering criticism from local medical professionals and promoting the U.K. on Continue Reading
Turkey plans to deploy a second drilling ship in the Black Sea early next year following the biggest-ever natural-gas discovery there. The vessel, named Kanuni, will join another ship seeking further oil Continue Reading
Turkish research ship off Antalya, Turkey on July 22, 2020 Tensions rose earlier this year when Turkey sent a ship into a disputed area to search for potentially rich oil Continue Reading
Drilling rights and escalating tensions Tensions between Greece and Turkey over Eastern Mediterranean natural gas and oil fields, intertwined with maritime claims, have rapidly escalated in August 2020. On August Continue Reading
EU foreign policy chief Josep Borrell warned Sept. 15 the bloc’s relations with Turkey had reached a “watershed” moment over Ankara’s continued exploration work in the East Mediterranean. Not registered? Continue Reading
After weeks of tensions in the eastern Mediterranean, Greece and Turkey have signaled a willingness to start talks aimed at resolving a long-standing sea dispute tied to potentially lucrative offshore Continue Reading
At Friday prayers at the Al Aqsa Mosque in East Jerusalem, the faithful often hold up portraits of Recep Tayyip Erdogan, the Turkish president, worshipping under the gleaming gold crescent Continue Reading
Sailing through the Bosporus Strait that divides Europe from Asia last year, a Turkish fleet saluted the tomb of 16th century pirate and admiral Barbarossa, reviving a tradition that harks Continue Reading
President Tayyip Erdogan told European Council President Charles Michel on Sunday the EU’s stance towards the East Mediterranean would be a test of its sincerity, calling on it to take Continue Reading
Turkey said on Tuesday that it was open to dialogue with its neighbor Greece to end the dispute over the oil and gas resources in the eastern Mediterranean and the Continue Reading
The European Union on Friday urged Turkey to halt what it called its “illegal” prospecting activities in contested waters in the eastern Mediterranean and ordered EU officials to speed up Continue Reading
On Europe’s periphery, tensions involving an array of competing countries are rising. The brewing crisis in Belarus has sparked fears of an armed Russian intervention. And a standoff in the Continue Reading
Turkey will make no concessions in the eastern Mediterranean, President Recep Tayyip Erdogan declared as France announced that it would join naval exercises in the region amid a mounting stand-off Continue Reading
Turkey is determined to do whatever is necessary to obtain its rights in the Black Sea, Aegean and Mediterranean, President Tayyip Erdogan said on Wednesday. Speaking at an event commemorating Continue Reading
German Foreign Minister Heiko Maas appealed to NATO allies Greece and Turkey on Tuesday to enter a dialogue and de-escalate military tensions in the eastern Mediterranean, warning of an “abyss” Continue Reading
France is joining military exercises with Italy, Greece and Cyprus in the Eastern Mediterranean amid a worsening dispute between Turkey and Greece over energy resources in the region, Armed Forces Continue Reading
