Cyprus-Forum.com

[Lit]

Cyprus says will continue with oil search in Med

* Cyprus says oil licensing round seen "in few months"

* Island has "will" to move on project-minister

* Turkey opposes Cypriot hydrocarbon plans

NICOSIA, Sept 20 (Reuters) - Cyprus said on Monday it would press ahead with hydrocarbons exploration in the east Mediterranean, denying claims it would back down because of friction with Turkey over the ethnically split island.

Cyprus has been due to launch a second licensing round for offshore blocks, but perceived delays in an announcement has given rise to speculation the project, which Turkey opposes, has been shelved.

Industry minister Antonis Paschalides said Cyprus would move ahead when it was ready, but did not specify when.

http://af.reuters.com/article/energyOil ... 5K20100920

[Lit]

Cyprus to continue oil search

http://www.cyprusweekly.com.cy/main/92, ... 2452-.aspx

NICOSIA - Cyprus said Monday it would press ahead with hydrocarbons exploration in the east Mediterranean, denying claims it would back down because of friction with Turkey.
Cyprus has been due to launch a second licensing round for offshore blocks, but perceived delays in an announcement has given rise to speculation the project, which Turkey opposes, has been shelved.
Industry minister Antonis Paschalides said Cyprus would move ahead when it was ready, but did not specify when.
"There is a procedure to follow. It could be in a few months. It is not important if it is in two months or six months."
Cyprus held its first offshore licensing round in 2007.
It then placed 11 blocks on offer, giving exploration rights to U.S. based Noble Energy for one block lying directly south of the island and close to a sea boundary with Israel.
Noble has reported finding a large reservoir of natural gas on the other side of the boundary in Israeli waters.
A new Cypriot licensing round, which is a process where interested companies acquire detailed data from surveys with the option of moving on to exploration and then exploitation, would involve 12 blocks; 10 left from the first round and another two added in the meantime.
Simerini daily reported on Sunday and Monday that the government had suspended its plans because of Turkey's reaction. It also cited government concerns at the impact the move could have on reunification talks between estranged Greek and Turkish Cypriots.
"This does not correspond to reality," Paschalides told state TV. "..We have the political will and are handling the matter in a responsible manner."
Cyprus showed it wanted the process to continue by giving Noble exploration rights, the Cypriot official said.

[Lit]

Turkey also has several ongoing disputes with countries within the European Union and NATO. The most important one is, of course, the matter of Cyprus. This dispute doesn’t only place Turkey up against the Cypriot government, but also up against the Greek government. Up to this very day Turkey occupies the northern share of the Island, which is recognized as a member of the European Union. This part is officially recognized by Turkey only as the ‘Turkish Republic of Nothern Cyprus’. In fact this means that right now the European Union is in fact negotiating membership with a country that is currently occupying European territory. Cyprus may also complicate Turkey’s relations within the Middle East as it builds bilateral relations with Syria, which will unlikely be able to side with both Turkey and Cyprus in the future.

The problems surrounding the Cypriot matter are also aggravated by the current scramble for fossil fuels in the East Mediterranean. One of the countries that have already taken action in this scramble is Cyprus, but Turkey has warned that the intended operations approved by Cyprus are invalid. Turkey claims that Cyprus has no jurisdiction over the waters surrounding the northern part of the Island. At this point every country in the eastern Mediterranean region has an interest in finding and exploiting fossil fuels in this region. Not only are these fuels a desired good across the world, the location at the border of Europe make them a very attractive alternative to Europe’s energy supply coming through Ukraine. Israel, for example, is said to have concrete plans to drill for oil in the Mediterranean and then export it to Europe through Greece. This is of course a threat to Turkey’s plans, not only because it benefits Greece, but also because it endangers Turkish alternatives to supply Europe with energy.

full article here: http://gcreport.com/index.php/analysis/ ... llegiances

[Gasman]

Why on earth are you putting a link to the 'gc report' produced by a bunch of students who appear to all be from Belgium?

Check 'em out

Analysts?



http://gcreport.com/index.php/whos-who

Google them - Sim Tack is good for a laugh if you know where to find his other activities.