Cyprus News | Extra $15bn Revenue if Gas Goes Via Turkey

Cyprus News | Extra $15bn Revenue if Gas Goes Via Turkey

According to a report, entitled ‘The Cyprus Hydrocarbons Issue: Context, Positions and Future Scenarios”, by Ayla Gόrel, Fiona Mullen and Harry Tzimitras, produced by the Cyprus Centre of the Peace Research Institute Oslo (PRIO), an extra $15bn would be made if offshore gas is exported to the market via a pipeline to Turkey.

While the possibility of a pipeline seems unlikely at the moment, its obvious advantages over liquefying the gas keeps this option on the table. However, unless Turkey/Israel relationships improve and a Cyprus solution is achieved it is doubtful.

Mind you, according to the report, if Turkey and Israel get over their differences and the pipeline goes ahead the south would be have little involvement in the project with Israel content to supply its own needs first and export the surplus.

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