22286 - Important development in the energy plan of Cyprus

N. Lygeros
Translated from the Greek by Angeliki Papadopoulou

Thanks to the new agreement between Noble and BG Group, Cyprus achieves a determinant outcome even if it is presented at first as implicit. Because the deal, while is played between the american and british interests, has positive development for the negotiation between Cyprus and Israel too, for the Aphrodite reserve. In this context we can see clearly the catalytic role which the EEZ of Cyprus plays, since it gives the capability to large energy players to come and strengthen our position. The Noble played well, since it found reserve that is proven tradable and sells its stake in portions, so it brings a new ally with exchange value since they will have both 35% of all, with the Delek that will have 30%, but this long-range ally plays now with confidence, because the reserve is remarkable. And which could have been a better evaluation of high strategy from Cyprus that was founded on the notion of EEZ. In other words those who doubted it, should now admit the effectiveness of Cyprus, since it managed to activate the interest, but also the presence of large players within the EEZ. So practically, the whole case is supported now from one important player who is already playing in the management of terminal liquefaction of natural gas in Egypt, which makes stronger our relationship with Egypt too. At the same time this energy stabilization, in which another European player participates, helps practically and in the dynamic which exists between Cyprus and Israel. So, we can see that with this new step in the energy sector, Cyprus played implicitly one role more important in the geopolitical level and from one agreement that appears to be purely commercial, we are having strategic expansions for the future of Cyprus.