Wednesday 11 September 2013

YUSUF KANLI - The presumed new axis in Cyprus

YUSUF KANLI - The presumed new axis in Cyprus:

"It is becoming clearer that the “gas” hopes of the Greek Cypriot side have started to evaporate with many reliable reports stressing the amount of “recoverable” gas at the so-called Aphrodite field, or block 12, will be a fraction of the original high expectations… That is, it is becoming clearer to everyone that construction of LNG plants or building a pipeline through the Mediterranean to Greece will not be feasible at all. That is excluding the already expressed Turkish proposal to “buy” all the Greek Cypriot gas for its domestic consumption and re-export any excessive amount to Europe. There is no economically viable way out to convert “Aphrodite gas” to much needed hard currency to finance the worst economic crisis of the island as well as the resolution of the Cyprus problem. The Turkish purchase, of course, is preconditioned on Greek Cypriots conceding a share of the offshore gas to Turkish Cyprus."

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