Friday, 18 May 2012

Turkey: sabre-rattling over Cyprus gas | beyondbrics – FT.com

The old adage that oil or gas always adds fuel to an international dispute is being revived on the divided island of Cyprus.

The discovery last year by US-based Noble Energy of a major gas field in an area of the Mediterranean in Cyprus’s exclusive economic zone has predictably prompted a wave of interest from big oil and gas groups.

And, equally predictably, it has brought warnings from Turkey about possible reprisals against those who do business with the internationally-recognised Republic of Cyprus, which is licensing new offshore acreage.

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