Iran’s energy crunch is a sign of bad governance and foreign policy failures, analysts say.
Qatar is one of the world's top producers of liquefied natural gas, and UAE is an OPEC oil producer that is sharpening its focus on the gas market as Europe seeks to replace Russian energy imports after its incursion into Ukraine.
The world’s third-largest emitter of greenhouse gases has rolled out an ambitious plan to expand production of the ‘wonder fuel’ that will potentially decrease emissions, meet climate targets and reduce dependence on energy imports.
The new deal covers a 13-year period for the transmission of up to 1.5 billion cubic meters of natural gas a year.
Turkish President Erdogan says drilling of nine out of 10 wells in the first phase of the Sakarya gas field has been completed and work to connect the natural gas to Türkiye's system has been accelerated.
As China phases down on the usage of coal energy, Moscow sees an opportunity to decrease its dependence on Western buyers and make a pivot toward Chinese markets.
The two leaders discussed energy markets, food security, the situation in Libya, Syria and the Iran nuclear talks.
Paris has pushed back against the 3 billion euro gas pipeline amid pressure from Spain and Germany, who argue the project can help solve Europe’s energy supply problems.
Natural gas and crude oil prices have recently soared to record levels in Europe as Russia chokes off supplies.
The move comes as the country strives to wean itself off Russian natural gas in response to Moscow's attack on Ukraine.
Türkiye's drill ship, Fatih, had discovered 405 billion cubic meters (bcm) of gas in the Black Sea in July 2020, followed by a second discovery of 135 bcm in June 2021.
Abdulhamid Han drill ship is a "symbol of Türkiye's new vision" in field of energy, Turkish President Recep Tayyip Erdogan says.
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