Cyprus: Gas search to continue despite Turkey’s opposition

Cyprus: Gas search to continue despite Turkey’s opposition

Cyprus’s president says a search for offshore gas will carry on as planned despite strong opposition from Turkey and the ethnically split island nation’s breakaway Turkish Cypriots.

President Nicos Anastasiades said in a statement Wednesday that any potential wealth generated by new gas finds will be shared equitably with all Cypriot citizens after the island is reunified. He said any gas proceeds will be deposited in a sovereign fund that will be set up.

Anastasiades repeated an appeal for a resumption of peace talks on condition that Turkey stops obstructing drilling southeast of the island.

Turkish warships continue blocking a rig from reaching a target where Italian company Eni is scheduled to conduct exploratory drilling.

Turkey says the gas search ignores Turkish Cypriot rights to the island’s resources. [AP]

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