Sino-German strategic relations and investment in Cyprus offshore gas and oil? – John Gelmini

I would like to comment on Dr Alf’s reblog of an excellent FT article entitled “Decisive win gives Merkel strong hand –” in which he asks the following open question:

Is Angela Merkel‘s reelection likely to see Germany investing in the offshore Mediterranean gas and oil sector?

The answer to Dr Alf’s question is almost certainly yes because Germany‘s present policy of no nuclear power is unsustainable if Germany is to keep on growing at the required rate to create jobs and prosperity.

Currently, combined heat and power and conventional power stations plus better insulated buildings and homes, solar energy and conservation does the trick but it will not be enough. I cannot see Chancellor Merkel wanting fracking or onshore windfarms at scale, and the plutocrats behind the oil companies will not allow free energy via Tesla style “Singlepoint Energy”.

The alternative is for Germany to assist Cyprus develop its energy resources, which will be a boon for Cyprus, and a double boon for Germany, with its historic ties to Turkey which controls Northern Cyprus and its ties by default to Greece, through the last bailout and through the assistance China has given to Greece in exchange for ownership of certain islands. At the same time, Sino-German relations are likely to take on on a new strategic direction, which could well see a strong Sino-German interest in developing Cyprus’ off-shore oil and gas industry.

As Dr Alf knows first-hand, being based in Cyprus, the newest investment coming into Cyprus is from China as part of their “Go out and bring back in” policy.

The Chinese no doubt have an eye to the future and are probably positioning CNOC and Sinopec to work through a more user-friendly German partner as a possible alternative to the traditional Western oil companies like BP, Royal Dutch Shell, Exxon and Agip.

John Gelmini

Enhanced by Zemanta

9 responses

  1. Pingback: Chinese companies eye US new energy – People’s Daily Online « Dr Alf's Blog

  2. Pingback: Opinion: Brussels readies billions in rate-setting fines ex – John Gelmini « Dr Alf's Blog

  3. Pingback: Opinion – George Osborne’s visit ignored in China’s media ex People’s Daily Online – John Gelmini « Dr Alf's Blog

  4. Pingback: Opinion – BBC News – Business in Wales must tap into emerging markets says trade group – John Gelmini « Dr Alf's Blog

  5. Pingback: Reality check on the likelihood of a US default – John Gelmini « Dr Alf's Blog

  6. Pingback: Opinion: US Treasury starts last measures to preserve borrowing authority ex Reuters – John Gelmini « Dr Alf's Blog

  7. Pingback: Opinion: Which Management Style Will China Adopt? – N & S Richter ex HBR – John Gelmini « Dr Alf's Blog

  8. Pingback: Some thoughts on UK foreign policy – John Gelmini « Dr Alf's Blog

  9. Pingback: The reality of the US’s return to “great-game” politics – John Gelmini « Dr Alf's Blog

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

%d bloggers like this: