• Natural Gas News

    CNN: Cypriot president: Underwater gas fields can help unite island

    old

Summary

The Eastern Mediterranean could be a new energy frontier with approx 122 trillion cubic feet of gas in the area.

by: Sruthi

Posted in:

Press Notes

CNN: Cypriot president: Underwater gas fields can help unite island

It may be early days in the quest for energy underneath the crystal blue waters of the Mediterranean -- but the eventual bounty may be sizable for Cyprus.

The Eastern Mediterranean is considered a new energy frontier with a 2010 report from the U.S. Geological Survey estimating there to be 122 trillion cubic feet of gas in the area.

Nearby Israel, Lebanon and Egypt have also marked their offshore territories and are evaluating their potential.

But for Cyprus, still bitterly divided between a Greek Cypriot south and Turkish Cypriot north, the rewards could be more than just financial.

MORE