The Italian-French energy consortium Eni-Total has discovered large natural gas deposits south of Cyprus. Under the seabed, about 100 miles southwest of the Mediterranean island, up to 85 billion cubic meters of natural gas is thought to be present.
The Italian energy supplier Eni, partly owned by the state, had already discovered another gas field in this region in August. Its volume is estimated to be about 70 billion cubic meters.
Free Europe from Russian natural gas supplies?
According to energy experts in Nicosia, the find is an important step towards freeing Europe from Russian natural gas reserves. Further rich natural gas deposits are suspected in the eastern Mediterranean. In 2011, the American company Noble Energy discovered large natural gas fields in Cyprus’ Exclusive Economic Zone (EEZ) while drilling further east of the current site.
But the finds are also fueling geopolitical disputes in the region. Neighboring Turkey challenges EEZ Cyprus. Since 1974, Cyprus has been divided into a Greek Cypriot part in the south and a Turkish Cypriot part in the north of the island. As long as there is no solution to the Cyprus issue, Ankara is blocking the exploitation of the natural gas fields and also against the search for further deposits.
Source: Krone
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