German article undermines Cyprus energy prospects

“Cyprus could become an exporter of natural gas. But a strong neighbor is already raising objections,” Handelsblatt writes in a related article. The German financial newspaper refers to the statements by the Minister of Energy of Cyprus, Mr. Laktorpipis, that the largest gas discovery in Cyprus and internationally for the last two years has been in section 10 of the Republic of Cyprus EEZ.

The report says that the deposits are estimated at between 140 and 220 billion cubic meters of natural gas and that “a turmoil could come from a large neighbor of Cyprus who is questioning the ownership of natural resources. Turkey wants to have a say when oil and gas research will be conducted in the eastern Mediterranean. ”

The newspaper underlined that the gas conflict jeopardizes the unity of Cyprus: “A year ago, Turkey had blocked the Italian Saipem 12,000 drilling vessel with a number of warships. The vessel was used by ENI to look for natural gas on the south coast of Cyprus. The Italians resigned and after a few days they left.

Sea exclusion has shown how dangerous the gas dispute is. Reunification of Cyprus would be a way to avert tensions on natural resources. But talks on resolving the crisis broke out in the summer of 2017, mainly because of Turkey’s refusal to withdraw its occupation forces from northern Cyprus. ”

And the article concludes: “Cypriot President Nikos Anastasiades met with Turkish Cypriot leader Mustafa Akinji on Tuesday to explore possibilities for new talks. However, after the meeting, Anastasiades said the conditions for resuming talks are not yet mature. ”

One should take German reports of this nature with some reservation. Germany has entered into an energy alliance with Russia and Turkey and does not want the European Union’s alternative supply from strong sources other than Russia. The German industry sells its products on the significant Russian market and receives gas in return (Nord Stream 2).

The Russians, through Germany, have greatly secured the energy control of the European continent … Hence, sometimes the lack of serious reference to hydrocarbons in the Greek main opposition party New Democracy’s program, as well as the party’s legendary good relations with the “lobby” of the powerful German companies involved in renewable energy.