Greece continues to escalate tensions in the Eastern Mediterranean amid calls from the European Union for dialogue. In addition to conducting military exercises, Athens deployed troops to the island of Kastellorizo (Megisti-Meis) and is preparing to conclude an exclusive economic zone (EEZ) agreement with the Greek Cypriots – similar to Athens' controversial deal with Egypt. Last but not least, Greek leaders fueled tensions last week by talking about extending their claims in the Ionian Sea to 12 nautical miles.
The recent tension and crisis in the Eastern Mediterranean are turning into a coordinated campaign to contain Turkey in an energy-rich strategic region. Turkey is the country with the longest shores in the Mediterranean and has been calling on international actors to negotiate a fair deal on the entire Eastern Mediterranean region based on mutual interests.
President Recep Tayyip Erdoğan announced on Friday that Turkey's drillship Fatih discovered 320 billion cubic meters (bcm) of natural gas in the Black Sea. The largest discovery of natural gas in Turkey’s history, it is expected to be part of a broader reserve, marking the beginning of a new chapter for the country. It also represents a giant leap forward in its revolutionary attempt to end its dependence on foreign energy. The currently available natural gas reserve, which could meet Turkey’s energy demand for eight years, is priced at approximately $90 billion (TL 660 billion) based on current prices.