Energy Triangle

US ships arrive in Cyprus EEZ

The increased US naval presence in the Eastern Mediterranean until the end of the month is seen as an indication of the concern triggered by Turkey's recent hostility in the region, which last month led to the suspension of Italian energy company Eni's drilling operations in Block 3 of Cyprus's exclusive economic zone (EEZ).

Greece, Italy, Israel and Cyprus back gas pipeline to Europe

Italy, Greece, Cyprus and Israel agreed on Tuesday to back the construction of a gas pipeline from newly discovered fields in the eastern Mediterranean to Europe.

The project, known as East Med, involves a 2,000 km long pipeline to channel offshore reserves in the Levantine Basin in the far east corner of the Mediterranean to Greece and Italy, at a cost of up to 6 billion euros.

Cyprus: 4-5 drillings in the next 12 months

Cyprus will have a clear picture of its subsea natural resources by the end of next year during which four or five drills are expected according to Energy Minister Yiorgos Lakkotrypis.

Speaking to the House Finance committee on Monday Lakkotrypis informed the MPs that the government is currently waiting to be informed by Italian energy giant ENI on its planned drilling dates.

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