x

Society

Cyprus Energy Finds Stoke Hopes, Fear, Turkish Warnings

March 20, 2019

The discovery of gas off Cyprus by the US company ExxonMobil, which defied warnings from Turkey telling foreign companies to back off, has raised expectations that lucrative revenues could be a catalyst for reunifying the island.

Energy Minister George Lakkotrypis said the finding of energy in the island’s Exclusive Economic Zone (EEZ) – parts of which Turkey doesn’t recognize and as it has sent research vessels into the area – has created confidence it could ratchet down the tension.

He said the Eastern Mediterranean as an alternative source of energy for Europe was receiving a lot of attention because of the new discoveries.  “This is why we feel that we should implement our strategy and keep the interest we have built in the region,” The Financial Mirror said.

“If we accept Turkish version of our EEZ we will be left with 30% of what we have today… we would have all of the discoveries in Aphrodite, Calypso, Glafcos, falling into other countries,” he said, referring to the names of gas and energy fields being explored.

He said he hoped that sharing the revenues – as Cypriot President Nicos Anastasiades would happen with Turkish-Cypriots unlawfully occupying the northern third since a 1974 invasion – would bring Turkey back to the unity bargaining table.

The last round of talks had broken off in July, 2017 at the Swiss resort of Crans-Montana when Turkey insisted on keeping an army on the occupied land and wanted the right to militarily intervene again when it wanted, leading Anastasiades to walk away.

Turkey also wants Turkish-Cypriots to have a say in the licensing of foreign energy companies to look offshore, where Turkish warships had been sent previously, scaring off a ship from the Italian energy company Eni.

Lakkotrypis said that Eastern Mediterranean gas should be offered at competitive prices to compete with Russian natural gas sold very cheaply due to the existing infrastructure and shale gas from the United States, the report added.

The Minister was speaking at a panel discussion during the 10th Economic Ideas Forum organized by the Wilfried Martens Centre of European Studies and the Glafcos Clerides Institute, in Nicosia.

RELATED

ΝΙCOSIA - An investigation into conditions on an intercity bus on Cyprus that passengers said was so dirty they couldn't see out the windows was ordered after it broke down on a highway and caught fire.

Top Stories

General News

FALMOUTH, MA – The police in Falmouth have identified the victim in an accident involving a car plunging into the ocean on February 20, NBC10 Boston reported.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

General News

PHILADELPHIA – The Federation of Hellenic Societies of Philadelphia and Greater Delaware Valley announced that the Evzones, the Presidential Guard of Greece will be participating in the Philadelphia Greek Independence Day Parade on March 20.

Video

Mission…to Alonnisos, a TNH Documentary

O oceanic you sing and sail White on your body and yellow on your chimeneas For you're tired of the filthy waters of the harbors You who loved the distant Sporades You who lifted the tallest flags You who sail clear through the most dangerous caves Hail to you who let yourself be charmed by the sirens Hail to you for never having been afraid of the Symplegades (Andreas Empeirikos)   What traveler has not been fascinated by the Greek islands, drawn by the Sirens’ song of a traveler’s dreams? TNH and our video show ‘Mission’ marked the change of the season by transporting viewers into the heart of summer.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. abc@xyz.com

You may unsubscribe at any time using the link in our newsletter.