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Gas on the water
11/4/19 16:14![[personal profile]](https://www.dreamwidth.org/img/silk/identity/user.png){kind=small}
fridiExxon Mobil : Block 10 gas find is a game-changer
We're now at a point where the initial euphoria from this discovery in the Cypriot exclusive economic zone is giving way to more pragmatic assessments. About a fortnight after ExxonMobil and the Cyprus government announced the birth of the country's third largest oil field so far, as well as the most significant one for the last few years, more questions are mounting than answers.
The discovery raises the question how the carbon deposits in the East Mediterranean will be dealt with. It's directly related to the delicate balance of powers between Cyprus, Turkey, Israel, and Egypt. We've talked about this at great length before. It will make it even more difficult for Cyprus and its neighbors to decide between themselves how they'll be exploiting the gas deposits, and how they'll be exporting them to the international markets. All potential delivery routes are part of the complicated knot in that region, one that's shaping up to become a key alternative source of energy for Europe.
( Read more... )
We're now at a point where the initial euphoria from this discovery in the Cypriot exclusive economic zone is giving way to more pragmatic assessments. About a fortnight after ExxonMobil and the Cyprus government announced the birth of the country's third largest oil field so far, as well as the most significant one for the last few years, more questions are mounting than answers.
The discovery raises the question how the carbon deposits in the East Mediterranean will be dealt with. It's directly related to the delicate balance of powers between Cyprus, Turkey, Israel, and Egypt. We've talked about this at great length before. It will make it even more difficult for Cyprus and its neighbors to decide between themselves how they'll be exploiting the gas deposits, and how they'll be exporting them to the international markets. All potential delivery routes are part of the complicated knot in that region, one that's shaping up to become a key alternative source of energy for Europe.
( Read more... )
