The Republic of Cyprus has entered the maelstrom of the world's most volatile region thanks to new-found gas and oil reserves combined with an erratic Turkish foreign policy and a civil war in Syria. Even as leaders of this Mediterranean island show skill dealing with these novel threats and opportunities, they need support from a strong U.S. Navy, something not now available.
Cypriot underwater gas and oil discoveries follow directly on ones found earlier in Israeli seas, located adjacent to them and uncovered by the same American (Noble) and Israeli (Delek, Avner) companies. The current estimate of 5 trillion cubic feet (tcf) as well as some oil has a value estimated at US$800 billion, a huge sum amount for a small country whose current GDP is a mere $24 billion.
The great majority of this energy will likely be exported to Turkey or Europe. A pipeline to Turkey would be cheapest and easiest but so long as Turkish troops continue to occupy 36 percent of Cyprus, this will not happen. A recent court decision permitting the Israeli government to decide what quantities of energy to export now offers other possibilities: Cyprus could swap gas with Israel that then goes to Turkey or the two allies could jointly build a liquefied natural gas terminal in Cyprus.
Eventually, should Egypt, Gaza, Lebanon, and Syria find gas and join the modern world, they too could take part, turning the area between Egypt and Cyprus into a truly major resource; according to the U.S. Geological Survey, the contiguous Nile Delta and Levantine basins together contain an estimated 345 tcf of natural gas and 3.44 billion barrels of oil.
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