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Monday, 17 July 2017

Erdogan is hurting gas exploration in East Mediterranean

Erdogan is hurting gas exploration in East Mediterranean to score political points at home: The inability of Greek Cyprus and Turkish Cyprus to reach an understanding in these latest round of talks does not bode well for natural gas exploration in the East Mediterranean, writes Cyril Widdershoven for Oil Price Magazine. This comes at a time when the gas exploration in the area is picking up, with oil majors Total and Eni presumably having begun offshore drilling as scheduled yesterday, not to mention talk of a possible gas export line between Israel and Turkey. The situation is made worse by the involvement of the Turkish Sultanate under potentate Erdogan, who is likely seeking to drum up national fervor of the issue to draw attention to the massive protests erupting in commemoration of last year’s failed coup to have him ousted. Ankara condemned drilling operations on Cyprus’ coast and threatened to take all necessary measures. Turkey has reportedly sent a frigate to the area, with as its sole purpose to monitor the West Capella, the drilling vessel used to drill on Block 11. For the record, Block 11 is close to Egypt’s Zohr field.

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