BR100 Increased By (0.52%)
BR30 Increased By (0.44%)
KSE100 Increased By (0.46%)
KSE30 Increased By (0.58%)
BECO 5.67 Decreased By ▼ -0.06 (-1.05%)
BML 57.05 Decreased By ▼ -0.25 (-0.44%)
BOP 36.85 Increased By ▲ 0.08 (0.22%)
CNERGY 8.32 Decreased By ▼ -0.07 (-0.83%)
DCL 11.90 Decreased By ▼ -0.14 (-1.16%)
FCCL 58.66 Increased By ▲ 0.05 (0.09%)
FCSC 5.09 Increased By ▲ 0.08 (1.6%)
FFL 18.12 Increased By ▲ 0.18 (1%)
FNEL 1.26 No Change ▼ 0.00 (0%)
HUMNL 11.28 Decreased By ▼ -0.14 (-1.23%)
KEL 8.24 Decreased By ▼ -0.05 (-0.6%)
KOSM 6.54 Decreased By ▼ -0.08 (-1.21%)
MLCF 107.17 Decreased By ▼ -1.12 (-1.03%)
NBP 208.80 Increased By ▲ 2.76 (1.34%)
PACE 11.18 Increased By ▲ 0.01 (0.09%)
PAEL 45.39 Increased By ▲ 0.04 (0.09%)
PIAHCLA 30.31 Decreased By ▼ -0.46 (-1.49%)
PIBTL 18.87 Decreased By ▼ -0.19 (-1%)
PPL 248.71 Increased By ▲ 2.76 (1.12%)
PRL 36.29 Increased By ▲ 0.21 (0.58%)
PTC 74.01 Increased By ▲ 1.65 (2.28%)
SEARL 96.13 Decreased By ▼ -0.54 (-0.56%)
SSGC 31.37 Decreased By ▼ -0.30 (-0.95%)
TELE 9.21 Decreased By ▼ -0.06 (-0.65%)
THCCL 68.04 Increased By ▲ 0.23 (0.34%)
TPLP 11.64 Increased By ▲ 0.41 (3.65%)
TREET 25.72 Decreased By ▼ -0.17 (-0.66%)
TRG 67.62 Decreased By ▼ -0.22 (-0.32%)
WAVES 11.25 Increased By ▲ 0.27 (2.46%)
WTL 1.28 No Change ▼ 0.00 (0%)
Markets

Turkey vows to step up gas exploration in east Med

  • The search for oil and gas has long been a source of tension between NATO allies Greece and Turkey, which have deteriorated as Ankara resumes exploration activities.
Published Updated
By

ANKARA: Turkey will step up energy exploration in the eastern Mediterranean, the foreign minister said on Tuesday, vowing Ankara will not "compromise" on its rights despite Greek fury.

The search for oil and gas has long been a source of tension between NATO allies Greece and Turkey, which have deteriorated as Ankara resumes exploration activities.

Greece called for an emergency meeting of EU foreign ministers on Tuesday, after Turkey dispatched a research vessel accompanied by warships to disputed waters on Monday.

Revving up the tensions, Turkish Foreign Minister Mevlut Cavusoglu said Ankara will issue licences for new areas in the "western part of our continental shelf" from the end of August.

"We will conduct all kinds of seismic research, drilling activities. Our determination is absolute," Cavusoglu told reporters.

"We will defend the rights of Turkey... in the eastern Mediterranean and we will not compromise in any way on this," he said.

Ankara paused the search for oil and gas off a Greek island last month, saying it wanted to see how talks with Greece and Germany progressed.

But Turkish President Recep Tayyip Erdogan announced a resumption of the search for energy last Friday, blaming Greece for not keeping its promises.

The EU considers Turkish oil and gas drilling off the coast of Cyprus illegal.

But Cavusoglu said despite "our good intentions", Greece was "ill-intentioned", adding: "If they're going to blame anyone, they should blame Greece."

Turkish officials were particularly incensed by a deal agreed last week between Greece and Egypt to set up an exclusive economic zone in the region, which Ankara said was "null and void".

Ankara signed its own controversial agreement last year with Libya's UN-recognised government in Tripoli, which claimed extensive areas of the sea for Turkey.

Turkey sent one vessel to the area last week while a second, which arrived accompanied by warships on Monday, is expected to carry out activities off the island of Kastellorizo until August 23.

Comments

Comments are closed for this article.