• 4 minutes Energy Armageddon
  • 6 minutes How Far Have We Really Gotten With Alternative Energy
  • 10 minutes Russia Says Europe Will Struggle To Replace Its Oil Products
  • 12 hours GREEN NEW DEAL = BLIZZARD OF LIES
  • 2 days Reality catching up with EV forecasts
  • 4 days "Natural Gas Price Fundamental Daily Forecast – Grinding Toward Summer Highs Despite Huge Short Interest" by James Hyerczyk & REUTERS on NatGas
  • 3 days A Somewhat Realistic View of the Near Future for Electric Vehicles Worldwide
  • 14 days US Oil Independence is a myth and will always be a myth
  • 9 days The Federal Reserve and Money...Aspects which are not widely known
  • 14 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 17 days "Biden Is Running U.S. Energy Security Into The Ground" by Irina Slav
  • 17 days *****5 STARS - "The Markets are Rigged" by The Corbett Report
Zainab Calcuttawala

Zainab Calcuttawala

Zainab Calcuttawala is an American journalist based in Morocco. She completed her undergraduate coursework at the University of Texas at Austin (Hook’em) and reports on…

More Info

Cyprus And Turkey Face Off Briefly Over Natural Gas Reserves

Cyprus and Turkey had a brief spat over natural gas reserves in the Mediterranean over the weekend, with Turkish officials escorting Eni’s drilling ship away from sensitive waters, according to a new report by Shephard Media.

Cypriot officials are claiming the act violated international law because the forced move constituted military activity in the disputed area.

“We are keeping calm in order to avoid any crisis and taking all diplomatic steps necessary so that finally Cyprus' sovereign rights can be respected,” Cypriot President Nicos Anastasiades, said. “We are handling the situation by trying to avoid anything that could worsen the situation without ignoring the fact that Turkey's actions are in breach of international law.”

ADVERTISEMENT

Turkey and Cyprus have faced-off regarding natural resources in the Mediterranean in the past, especially because of Ankara’s ongoing argument that the northern portion of the island belongs to Turkey.

The Turkish foreign ministry’s statement of the unfolding of events over the weekend reflects the vigor of the territorial claims made in 1974, during the Turkish invasion of the island nation, now a member of the European Union.

ADVERTISEMENT

“[Cyprus conducts] unilateral hydrocarbon-related activities in disregard of the inalienable rights on natural resources of the Turkish Cypriot people, who are the co-owners of the Island,” the statement read. “This unconstructive Greek Cypriot attitude also constitutes a major obstacle to the settlement of the Cyprus issue.”

Cyprus has been in the news for its gas discoveries over the past weeks, raising Turkish eyebrows over exploitation of waters that could be considered Ankara-ruled after the border issue is resolved. Supermajors Eni and Total have made a promising gas discovery offshore Cyprus last week that confirms that the Zohr-like play, where Eni found the biggest gas deposit in the Mediterranean offshore Egypt, extends into the Cyprus Exclusive Economic Zone, the Italian group said. Eni has made a lean gas discovery in Block 6 offshore Cyprus, encountering an extended gas column with “excellent reservoir characteristics.”

By Zainab Calcuttawala for Oilprice.com

More Top Reads From Oilprice.com:



Join the discussion | Back to homepage

ADVERTISEMENT


ADVERTISEMENT


Leave a comment
  • Concerned on February 12 2018 said:
    Exactly how these waters could be Turkish after "border issue is resolved"... is not explained and left to imagination.

    There is nothing to resolve. Cyprus is exploring within its EEZ as defined by international law and the treaty for the seas which Turkey did not sign and the EEZ has been delimited after treaties with neighboring countries.

    Turkey simply wants a piece of the pie...

    And for other news now the weather will be mostly cloudy

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News