(Download) "Row Escalates over Oil and Gas Wealth in Mediterranean (Economy)" by The Weekly Middle East Reporter (Beirut, Lebanon) ~ Book PDF Kindle ePub Free
eBook details
- Title: Row Escalates over Oil and Gas Wealth in Mediterranean (Economy)
- Author : The Weekly Middle East Reporter (Beirut, Lebanon)
- Release Date : January 01, 2011
- Genre: Reference,Books,
- Pages : * pages
- Size : 63 KB
Description
The presence of huge oil and gas reserves in the eastern Mediterranean is threatening to spark conflicts between neighboring countries over what each country calls its right to natural resources in its territorial waters. While Cyprus and Israel have signed an agreement on the demarcation of their maritime boundaries allowing each country to begin exploitation of the oil wealth in its own territorial waters, this has irked Turkey which has warned the Greek Cypriot government against drilling. In fact, a three-way row between Turkey, Cyprus and Israel over oil exploration in the eastern Mediterranean appears to be brewing, carrying with it the risks of a military confrontation. The director of Cyprus' energy service Solon Kassinis told Reuters news agency on Sept. 19 that Cyprus has begun exploratory drilling for oil and gas in the eastern Mediterranean Sea - risking escalating tensions with Turkey. In a show of force, Turkey has sent warships to the disputed waters in the eastern Mediterranean following the Greek Cypriot government's decision to begin drilling. The internationally-recognized Greek Cypriot government has confirmed it is to start drilling off the divided island's south coast.