World press on Cyprus-Greece-Israel energy triangle (October 24, 2012)

Hurriyet published an article by George Stavris 'Is the new Cyprus-Greece-Israel energy triangle casting a net for Turkey?'

 

"Long-running speculation over massive natural gas reserves in the tumultuous Southeastern Mediterranean and Cyprus’ Exclusive Economic Zone (EEZ) became a reality in December 2011 when official research and scope reports were released," the article reads. 

 

"Today, the Republic of Cyprus finds itself grappling with this mixed blessing. These rich findings can provide long-term benefits for the country but Cyprus is more like a novice treading a very slippery floor in the major leagues of global diplomacy." 

 

"A new but familiar player, the state of Israel, has made a thunderous entry into the traditionally loud trio of Greece, Cyprus and Turkey, causing significant ruptures to the balance of the neighborhood. The event that sparked Israel’s newfound interest in Cyprus was the definitive signs of massive natural gas reserves in Cyprus’ Plot No. 12 (fittingly codenamed “Aphrodite”), right next to Israel’s own EEZ and massive reserves in its “Leviathan” plot."

 

"Cyprus is in the process of being bailed out by the Troika with onerous commitment terms and also has to be realistic about how the advent of natural gas reserves can do more for it than just fix its finances. Natural gas and perhaps oil should be used intelligently in the search for a permanent and viable solution to the “Cyprus Problem” and not as a weapon to solidify the Greek Cypriots’ standing in a never-ending confrontation with Turkey. Obviously, economics can play a growing and positive role in the quest for a solution. Ironically, after a solution, Turkey could act as a trading partner to such an extent that Cyprus would not need to have substantive others," the author concludes.

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