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(Wall Street Journal) Marc Champion - Turkey said it was ready to send warships to escort research vessels that would explore for oil and gas off the coast of Northern Cyprus, as Texas-based Noble Engineering began exploratory drilling farther south between Cyprus and Israel on Sunday, despite Turkish warnings to halt the project, the Cyprus News Agency reported. Turkish leaders say the Republic of Cyprus shouldn't drill for oil and gas on the continental shelf that it delineated with Israel in an agreement last year. "The main reason Turkey is reacting so strongly is that it wants to be the gateway for any new gas to come to EU markets," said a senior industry executive. A major Greek Cypriot find would undermine that goal, he said, as Cyprus would then export gas to the EU via Greece. 2011-09-21 00:00:00Full Article
In Cyprus, Turkey Raises Stakes Over Oil Drilling
(Wall Street Journal) Marc Champion - Turkey said it was ready to send warships to escort research vessels that would explore for oil and gas off the coast of Northern Cyprus, as Texas-based Noble Engineering began exploratory drilling farther south between Cyprus and Israel on Sunday, despite Turkish warnings to halt the project, the Cyprus News Agency reported. Turkish leaders say the Republic of Cyprus shouldn't drill for oil and gas on the continental shelf that it delineated with Israel in an agreement last year. "The main reason Turkey is reacting so strongly is that it wants to be the gateway for any new gas to come to EU markets," said a senior industry executive. A major Greek Cypriot find would undermine that goal, he said, as Cyprus would then export gas to the EU via Greece. 2011-09-21 00:00:00Full Article
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