FINDING NATURAL gas deposits in Cyprus’ exclusive economic zone (EEZ) can help towards solving the Cyprus problem and pave the way for collaboration between Cyprus and Turkey in the region, said government spokesman Stefanos Stefanou yesterday.
Both he and Finance Minister Kikis Kazamias said they hoped as far as the economy was concerned that the international ratings agencies would now upgrade Cyprus’ ratings.
Speaking on the state broadcaster’s main news bulletin last night, Stefanou, commenting on the political aspects said: “The president has said many times that the hydrocarbon issue should be a factor to promote peace in the region and a motive to solve the Cyprus problem.”
“Turkey has every motive, especially now with the finding of hydrocarbon deposits, to work towards a solution,” he said. A united federal Cyprus will create “new opportunities, and open horizons for collaboration with other countries in the region, including Turkey”, he added.
President Demetris Christofias officially announced on Wednesday that Noble Energy has confirmed the existence of a natural gas reservoir of between 5 trillion and 8 trillion cubic feet (tcf) with a gross mean of 7tcf in Cyprus’ Block 12 Aphrodite field.
Commerce Minister Praxoulla Antoniadou said the size of the deposits could satisfy Cyprus’ electricity production needs for the next 210 years, estimating the field’s worth to be around €100 billion.
Archbishop Chrysostomos II said yesterday the deposits were a “gift from god”, noting this could open the door to a Cyprus solution.
“It is the only time I believe we can properly solve the Cyprus problem and isolate Turkey because Europe will now take note of us,” said the primate.
House President and EDEK leader Yiannakis Omirou said the finding of hydrocarbons was a “promising” development which could “drastically enhance Cyprus’ geostrategic and geopolitical importance” and help to end the island’s division.
EVROKO leader Demetris Syllouris called on Christofias to take his own advice and refrain from fanfare and reckless statements. He criticised the president for making public statements “at every opportunity” about Turkish Cypriots benefiting from the natural gas, giving Ankara the chance to turn Cyprus’ resource exploitation into a bicommunal issue.
Until now, Turkey has displayed a fair level of belligerence regarding Cyprus’ first efforts at gas exploration, sending seismic survey ships and Turkish warships into Cyprus’ EEZ, while threatening to start drilling in areas that overlap with some of Cyprus’ 13 blocks in its EEZ.
UN and EU diplomats have warned that exploration for deposits is one thing, but extraction and transport of gas another, hinting that Turkey could turn the heat up a notch should Cyprus actually start making any money from its efforts.
Defence Minister Demetris Eliades told reporters yesterday that Cyprus will continue to act with respect to international law and take measures to address any potential threat from Turkey after the announcement verifying the existence of hydrocarbons.
The EU and US have supported Cyprus’ sovereign right to exploit its natural resources though have also stressed the need to solve the Cyprus problem so all can share in the spoils.
The EU is keen to diversify its energy sources and become less dependent on Russia for gas. The bloc’s promotion of the Nabucco pipeline which passes through Turkey is seen as part of that strategy.
Meanwhile, Russia announced on Wednesday that Turkey has signed an agreement allowing Russia to build the proposed South Stream pipeline through the Black Sea to Europe, putting Turkey in the odd and somewhat contradictory position of serving the strategic needs of both the EU and Russia.
The Turkish and Turkish Cypriot press yesterday gave extensive coverage to Christofias’ announcement with Turkish Cypriot daily Kibris using the front-page title ‘A chance for peace’.
Haberdar quoted officials from the Turkish Petroleum Corporation (TPAO) describing the quantity of natural gas found as “comical”, arguing that it could only meet the needs of the EU for four months.
