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Sunday, 5 May 2019

Turkey announces natgas drilling off Cyprus, Egypt, EU caution drillers

Egypt has warned Turkey against drilling in Cypriot waters after a dispatch from Ankara on the international maritime telex system NAVTEX announcing that it plans to start drilling for natural gas in internationally recognized Cypriot waters. Doing so could have negative repercussions on the “stability and security of the East Mediterranean region,” the Foreign Ministry said in a carefully-written statement yesterday. “We are closely monitoring the situation,” the statement reads, urging all EastMed countries to abide by international law.

The EU followed suit, warning against the bid, which Turkey launched after the Cypriot government stepped up cooperation on hydrocarbons with Egypt and Greece. Ankara later deployed several deep-sea drilling vessels to conduct exploration activities around the island.

Meanwhile: Egypt is going to have a long wait for Cypriot gas: Initial natural gas output from Cyprus’ Aphrodite field will come between 2024 and 2025,Cypriot Minister of Energy Yiorgos Lakkotrypis announced on Friday, Reuters reported. The gas will flow via pipeline to Egypt, where it will be liquefied and re-exported.

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