Cyprus-Forum.com

[Oceanside50]

Yes quite right P... and the matter of an exit from the Euro...

In a few years time we are all hopeful of massive monies from the gas and oil and that will be a time for CYs to think about whether they still want a currency that's mis-managed for the benefit of the northern Eurozone by the Frankfurt Bankers and the ECB, who are quite happy to have screwed CY in the past few weeks...

...or whether they would benefit from a New CY Pound, one that's backed up by those very nice oil and gas reserves, a new and strong petrocurrency totally within the control of CY.

that would be nice and dandy Bill, but unfortunately Cyprus doesnt have the luxury of making decisions like that after signing onto theEU...how convenient to switch sides whenever the grass is greener on the other side of the fence... Lets imagine that happens and Cyprus does leave the Euro expecting to have a strong currency withits Cypriot petrolires....Noble energy and all others keep drilling Cyprus' oil fields and keep it all for themselves (usa,europe)....oh!! you say, its illegal to do, so is teh illegal occupation of Cyprus by Turkey for the last 39 years...whats changed?.....

[Get Real!]

We can only blame our incompetent government for failing to detect any bad terms and for their complete failure in securing the best deal possible for our country.

[danny1234]

You mean the 'stranded' gas and oil because it can't go anywhere without Turkey.

[Jerry]

You mean the 'stranded' gas and oil because it can't go anywhere without Turkey.

Stranded? My arse !

Keep up will you.

http://en.wikipedia.org/wiki/Floating_l ... atural_gas

[danny1234]

Maybe you should read your link properly,

'Floating liquefied natural gas (FLNG) refers to water-based liquefied natural gas (LNG) operations employing technologies designed to enable the development of offshore natural gas resources. While no FLNG facilities currently exist, a facility is in development by Royal Dutch Shell,[1] and is due to be completed by around 2017.[2] Floating above an offshore natural gas field, the FLNG facility will theoretically produce, liquefy, store and transfer LNG (and potentially LPG and condensate) at sea before carriers ship it directly to markets.'

The word theoritically is the key, also if it does happen you are talking donkeys years away.

[Jerry]

Maybe you should read your link properly,

'Floating liquefied natural gas (FLNG) refers to water-based liquefied natural gas (LNG) operations employing technologies designed to enable the development of offshore natural gas resources. While no FLNG facilities currently exist, a facility is in development by Royal Dutch Shell,[1] and is due to be completed by around 2017.[2] Floating above an offshore natural gas field, the FLNG facility will theoretically produce, liquefy, store and transfer LNG (and potentially LPG and condensate) at sea before carriers ship it directly to markets.'

The word theoritically is the key, also if it does happen you are talking donkeys years away.

Well it looks like they are putting the theory into practice,
"The main double-hulled structure is being built by the Technip Samsung Consortium in the Samsung Heavy Industries,Geoje shipyard in South Korea. Construction was "officially" said to have started when the first metal was cut for the substructure in October 2012. The turret mooring system and other equipment such as wells are being constructed in other places around the world"

As to "donkey's years", that's also the time scale for the extraction of the gas so they don't need it in a hurry.

[Paphitis]

Insane...

How is Noble Energy going to keep the Gas to themselves? That is not possible and even if it was the Eurozone would be unable to stop it.

Anyway, the grass is greener because once again we are able to make our own fiscal decisions. The crisis would be half as bad if we could print, and stimulate the economy. The EU forced Cyprus to join the EZ as a condition to EU membership but it can't force Cyprus to stay and I doubt they can kick Cyprus out of the EU because that would be a disastrous precedent for them.

But there is a bigger issue at stake. Is it acceptable to remain in a monetary union which has destroyed confidence in the Cyprus Banking Industry and ruined our reputation?

Obviously it is not an easy decision and such a big decision needs to be carefully planned and is a long term project and it probably is expensive. I have too much pride to allow myself to worship a currency that has undermined Cyprus. And I was proud when Cyprus had its own beautiful and highly valued pound.

In Finance you can bank on 1 thing. History always repeats itself. There is a boom, then bust, boom, bust, boom, bust....so I have no doubt that when history repeats itself again in the future, the ECB will have no hesitation in screwing the peripheral countries.

[Paphitis]

You mean the 'stranded' gas and oil because it can't go anywhere without Turkey.

Go back to sleep!

[Jerry]

There's an interesting and detailed report on the "gas station" that's going to be built in Cyprus Mail. No pipelines, it's going to be exported by tanker.

http://www.cyprus-mail.com/features/fut ... y/20130407

[SKI-preo]

The word theoritically is the key, also if it does happen you are talking donkeys years away.

Donkeys years, maybe not. 2 and a 1/2 years away .

http://seekingalpha.com/news/1663173-sh ... -australia

Cheap gas to Europe does not benefit anyone. There are places where LNG can be sold at more lucrative prices.