Cyprus-Forum.com

[Lit]

Gas find could transform geopolitics of the region
Article | November 26, 2011 - 1:41pm

http://www.neurope.eu/article/gas-find- ... ics-region

[photo] Cyprus President Demetris Christofias visits the Homer Platform, where exploration drilling for hydrocarbons is taking place off the coast of Cyprus.

Cypriot President Demetris Christofias has said that efforts by his country to locate hydrocarbons in the Mediterranean are progressing well, despite continued objections from Ankara.

Speaking from a floating platform operated by US firm Nobel Energy, Christofias told officials that his visit offshore underscores Cyprus’ sovereign rights, adding that the issue of natural resources is of national importance.

“Our actions are strictly within the bounds of international legitimacy, and this is what we are doing with Noble and any other partners. I therefore hope that Noble will give us the best possible results as soon as is possible.

“This is a very important issue. There are issues which will come up when gas reaches the land. A team of experts has been set up, a team of technocrats, and a strategic plan is being drafted which we will have to examine cautiously and discreetly,” he said.

Christofias' remarks are directed at Ankara which disputes Cyprus' oil and gas search because it doesn't recognize the island as a sovereign country.

The government spokesman Stefanos Stephanou described the visit as a symbolic gesture of political dimensions adding that a second licensing round for hydrocarbons exploration will soon be announced.

Relations between Turkey and Cyprus have soured increasingly after the internationally-recognized Greek Cypriot government started drilling off the south coast of the island in September.

The work is being conducted by Noble Energy, which has said that according to early data gas deposits under the drilling hole are estimated at between 3.5 and 9 trillion cubic feet, however the government has estimated the figure to be 8 trillion cubic feet and has said that it would await official results expected in mid-December.

In response to the Cyprus drilling, Ankara recently signed a maritime accord with the break-away Turkish Cypriots and said it would pursue its own drilling which Christofias denounced as "actions outside international law."

Commentators say if gas riches are discovered, it will transform the geopolitics of the Middle East, with Turkey determined to be part of any energy bonanza.

In a separate development, the Foreign Minister Erato Markoullis has said that Turkey will not be allowed to use the Cyprus issue as an obstacle on the way to the successful completion of the Cyprus EU rotating Presidency. “Despite Turkey’s efforts and threats, the Cyprus issue did not become an obstacle to Cyprus’ EU accession and we will not allow Turkey to use it now as an obstacle for the effective completion of our Presidency”, she stressed.

Turkey has said it will freeze contact with the EU during the Cyprus Presidency, which starts in July 2012.

[humanist]

Turkey can freeze any contact she wants ......... she also better watch out the EU doesn't decide to freeze contact with Turkey ...... permanently as they are now seeing the aggressive Turkey showing its true colours.

[Lit]

Cyprus launches 2nd licensing round for offshore oil, gas exploration

http://www.washingtonpost.com/business/ ... story.html

By Associated Press

NICOSIA, Cyprus — Cyprus has launched a second licensing round for offshore exploratory drilling as hopes grow that potential fossil fuel deposit discoveries will buoy the eurozone country’s sagging economy, even though the efforts are raising tensions with Turkey.

An announcement on the Cypriot Commerce Ministry’s website Monday invites license applications in the next 90 days to search for mineral deposits inside 12 of 13 sections that together make up the island’s 19,700 square mile (51,000 square kilometer) exclusive economic zone off its southern coast.