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Erdogan Unveils Biggest Ever Black Sea Natural Gas Discovery

Lira and shares give up gains as size of deposit announced
Turkey also searching in contested eastern Mediterranean

Turkish President Recep Tayyip Erdogan — Turkish President Recep Tayyip Erdogan
Photographer: Adem Altan/AFP via Getty Images

By

Selcan Hacaoglu,

Vanessa Dezem and

August 21, 2020, 4:00 AM UTCUpdated onAugust 21, 2020, 7:33 PM UTC

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President Recep Tayyip Erdogan said Turkey has found 320 billion cubic meters of natural gas in the biggest ever discovery in the Black Sea, and hopes to begin production by 2023.