Oil and Gas for the benefit of all Cyprus

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
19/08/2011 00:04

http://www.cyprus-mail.com/cyprus/oil-and-gas-benefit-all-cypriots/20110818





South Cyprus Government plans to begin exploration drilling for oil and gas reserves will go ahead in six weeks as planned, the Energy Service confirmed yesterday.

And if successful the endeavour will be for the benefit of all Cypriots, both Greek Cypriot and Turkish Cypriot, it said.

“We will begin drilling on October 1, perhaps even a week earlier,” said its director, Solon Kassinis.

He added: “We are operating in line with international law on these issues. We’ve done everything. Environmental studies that no one else has done even if the drilling is explorative. Therefore we are moving forward based on international law and what we find will not only be for the Greek Cypriots. We never said something like that. It is for all legal residents of Cyprus.”

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
19/08/2011 00:05

Kassinis comments were made in reference to Turkish concerns that the Turkish Cypriot community had not been represented in Cyprus’ drilling agreements with its neighbours and said any such agreements were illegal. Turkey has threatened to take action if the drilling goes ahead pending a Cyprus problem solution which would ensure the Turkish Cypriot community’s representation.



Nevertheless Kassinis assured that all steps had been taken in accordance to international law and that nothing would deter the go ahead this autumn.



He said the procedure was expected to last two months, depending on any difficulties that might arise, and that the exploration would determine the quantity and quality of any natural gas find.

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
19/08/2011 00:06

Kassinis added that a meeting between the Commerce Minister and US firm ‘Noble Energy’, which had undertaken the exploration contract, had been scheduled for today to address any and all issues related to the project.





He said: “The government will examine how we will transfer the gas, if it will be transferred via a pipeline, how big this pipeline will be, who is to be involved in the procedure and whether we will be able to export it via a liquefaction plant.”

No1Doyen


Joined: 04/07/2008
Posts: 16617

Message Posted:
19/08/2011 00:07

The government signed a production-sharing contract with ‘Noble Energy’ earlier this year to launch exploration activities in block 12, an 800,000-acre economic zone southeast of the island which borders Israeli waters and where massive gas fields were found under the seabed.



The contract was signed following an agreement for the delineation of the Exclusive Economic Zone (EEZ) with Israel in 2010.





The government also signed agreements for the delineation of the EEZ with Lebanon and Egypt four years ago..

Groucho



Joined: 26/04/2008
Posts: 7993

Message Posted:
19/08/2011 00:52

What - like they shared the government in 1963?

I don't think TCs should hold their breath.

Deniz1


Joined: 28/07/2009
Posts: 3829

Message Posted:
19/08/2011 06:55

All legal residents in TRNC does that mean all those the ROC deem to be illegal ie mainly expats will be excluded from the supply? How would they do that?

TRNCVaughan


Joined: 27/04/2008
Posts: 4578

Message Posted:
19/08/2011 10:03

msg 6,



It doesn't mean anything about the gas supply to the North and who can be connected. It means that the royalties from the gas exported abroad will shared with legal residents in the North, through their government. Whoever that might be at the time.

Jaybee


Joined: 11/11/2008
Posts: 228

Message Posted:
19/08/2011 10:39

Surely as the GC say that all the NC are illegal residence then sounds to me that its another ploy to ignore "Northern Cyprus " on a technicality.Watch this space