Benefits from oil could accrue earlier than gas – Cyprus Mail

Location of the Eastern Mediterranean

Location of the Eastern Mediterranean (Photo credit: Wikipedia)

This is an excellent article in the Cyprus Mail and well worth a read. Check it out!

via Benefits from oil could accrue earlier than gas – Cyprus Mail.

The article examines the real probability that Cyprus will start to accrue benefits from offshore oil before natural gas.

The author, Constantinos Hadjistassou PhD, is a researcher at the University of Cyprus specializing in hydrocarbons and low-carbon energy technologies.

Cyprus’ offshore natural gas and oil promises to be as big if not bigger than the North Sea bonanza of the sixties and seventies. Just as the UK and Norway benefited enormously from the North Sea, and neighbouring countries, like Germany and France looked on with envy, it will soon be the turn of Cyprus.

German voters going to the election in September should reflect carefully about Russia threatening to turn the gas off in Winter. North Europe could be a part of the Cyprus’ bonanza, sharing the benefits of energy in the Eastern Mediterranean but they need to invest now. Cyprus desperately needs help with investment to stimulate her economy. Cyprus will remember her friends.

Will German voters continue with the narrow view in their election, pre-occupied with their immediate interests or will they want Germany to take a more positive role in Europe?

What do you think is the likely outcome?

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