Cyprus has vowed to press ahead with the exploration and drilling of its vast gas reserves despite threats from Turkey to block extraction by military force if there is no prior deal to reunify the divided island.
"The whole world, including the United States, recognises the right of Cyprus to exploit the right of its own exclusive economic resources," said Ioannis Kasoulides, the Cypriot foreign minister.
Mr Kasoulides said Turkey is not a signatory to the UN Convention on the Law of the Sea and does not recognise the principle that islands have their own seabed, but its naval actions in the region have so far been calibrated. Two weeks ago the Norwegian ship MV Princess, exploring in Cypriot waters, was intercepted by a Turkish warship and forced to leave.
"We are still far away from gunboat diplomacy, even for Turkey. Groups like Noble Energy, ENI and Total would not be investing billions in exploration here if they really thought Turkey was going to stop them," he said.
Mr Kasoulides said the US-based Noble Energy had already found five trillion cubic feet (TCF) of natural gas in a single bloc of the Aphrodite field to the south of the island, enough to transform the country's long-term economic prospects following last year's traumatic collapse of the banking system, and more than enough to pay off a €10bn rescue from the EU-IMF Troika... I just want to let people know that Turkey are stepping up shale gas development.
Forecasts on Turkey shale gas reserves differ and only public data comes from a 2013 EIA report. Estimates on technically recoverable resources vary between 6 billion cubic meters and 2 trillion cubic meters, which could meet Turkey demands for 10 to 40 years, you see that's why Turkey does not need Cyprus and Israeli criminal state gas they can stuff it, for all I care.
At the moment Turkey natural gas supply remains heavily dependent on Russia, which currently supplies 58 percent via Blue Stream and Western gas pipelines. Two international gas pipelines-Tabriz-Ankara and Baku-Tbilisi Erzurum-provide 19 percent and 8 percent, respectively. The rest is LNG imported from Algeria and Nigeria.
Forecasts on Turkey shale gas reserves differ and only public data comes from a 2013 EIA report. Estimates on technically recoverable resources vary between 6 billion cubic meters and 2 trillion cubic meters, which could meet Turkey demands for 10 to 40 years, you see that's why Turkey does not need Cyprus and Israeli criminal state gas they can stuff it, for all I care.
At the moment Turkey natural gas supply remains heavily dependent on Russia, which currently supplies 58 percent via Blue Stream and Western gas pipelines. Two international gas pipelines-Tabriz-Ankara and Baku-Tbilisi Erzurum-provide 19 percent and 8 percent, respectively. The rest is LNG imported from Algeria and Nigeria.
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