(Daily Beast) Allison Good - Cyprus is seeking to exploit its own natural gas discoveries, but to make the export of liquefied natural gas (LNG) financially lucrative, Cyprus also needs to receive gas from Israel's Leviathan field. As an export option for Israel, Cyprus is a strategic ally that would serve as a gateway to Europe. A Cyprus-based group that includes the Public Power Corporation of Greece plans to implement the EuroAsia Interconnector project, a subsea power cable linking Israel, Cyprus, and Greece. That agreement, inked in August, provides for trilateral cooperation on the protection of natural gas fields. Annual Israeli-Greek joint military exercises have included defending offshore natural gas platforms.
2013-10-18 00:00:00Full ArticleBACK Visit the Daily Alert Archive