US State Department recognises Cyprus’ rights in newly discovered gas deposit

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A huge natural gas deposit has been discovered by drilling partners, Eni of Italy and France’s Total, about 160 km off Cyprus’ southern coastline.

According to a statement by the Cypriot energy ministry, the new discovery was made at the Cronos-1 well inside Cyprus’ Exclusive Economic Zone (EEZ) and is estimated to contain around 2.5 trillion cubic feet of hydrocarbon.

This is the second deposit that the Eni-Total consortium has discovered there.

News of the discovery has been welcomed by the US State Department, which said Cyprus has the right to develop resources within its EEZ.

As reported by AMNA a US State Department spokesperson said that developing natural resources in the East Mediterranean should promote cooperation and contribute to energy security and economic prosperity of the entire area.

US Department of State

“The United States remains united with its allies and partners in their commitment to promoting European energy security, reducing the region’s dependence on Russian energy, and continuing to pressure the Kremlin,” the spokesperson said.

“The United States recognises the right of the Cyprus Republic to develop the resources lying within its EEZ.

“Oil and natural resources and all its resources, in general, should be fairly shared between the Greek and Turkish communities.”

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