€uroArea becomes Oil-Gas rich from EU Member Cyprus' a.o. findings in SouthEastern Mediterranean !

Published in English only after StockMarkets were closed this afternoon in Europe, the initial finding of some 7 Trillions cubic feet Gas in EU Member Cyprus, out of which 6 Trillions could be used by European a.o. big countries' Industry, since the island's needs are satisfied with 1 trillion c.f. for more than a Generation (30 Years), is only the 1st among a series of forthcoming Explorations there, for which interested companies prepare to bid in a procedure due to start in a few weeks' time (f.ex. at the end of January 2012), Nicosia's competent authorities, starting by President Christofias, anounced earlier today.

This "exciting" "discovery of significant natural gas resources" was  made in Block 12 of Cyprus' EEZ, which is part of a Total, unexplored yet Area of  more than 51.000 square-kilometers, and "is the 5th consecutive natural gas field discovery for Noble Energy (Texas, U.S. and our partners in the greater Levant basin, with total gross mean resources....currently estimated to be over 33 Trillions cubic feet", so that, "this latest discovery in Cyprus further highlights the quality and significance of this World-class basin", according to a Press Release by Charles D. Davidson, Noble Energy's Chairman and CEO.

OIl/Gas corporations being obliged by their status to remain sober on prognostics, other, independent Experts, as, f.ex. Houston Professor Nicolau, estimate that the total of Cyprus' EEZ resources, in all its 13 Blocks, might finally reach some 75 Trillions cubic feet.
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Cyprus has already negotiated and signed Agreements with Neighbouring South-Eastern Mediterranean Countries Egypt, Israel and Lebanon, according to the International Law of the Sea, while previous Turkish threats were repeatedly dismissed also by various Statements from EU Energy Commissioners, USA, Russia and other European/International main players.

Meanwhile, on Safety issues, already since 2006, key €urozone Countries, led by France (on Land forces) but also Germany (mainly on Ships), have established in and around Cyprus a useful Military presence, on the occasion of the UN-sponsored International Peace-keeping operation to protect and stabilize Lebanon's borders with Israel and its Sea-Coasts, which includes Strategic Logistics' bases in Cyprus. Among the participants (on Sea ship aspects) were aso Naval Forces from Denmark, the incoming EU rotating Chair for the 1st half of 2012.
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More €uroArea's Oil-Gas Resources are notoriously believed to exist also at another EU-Member Greece's territorial waters mainly in the Aegean Sea, as Experts suspect since the 1970ies, but they remain practically "frozen" only because of Turkey's brutal threats of War and refusal to admit the International Law of the Sea which recognizes since the 1980ies that Islands have also a Seabed with Exclusive Economic zone. Greek Oil-Gas Findings could, however, allow to pay back immediately the EU-Member Country's provoked huge Debt of Tens of Billions €, putting shortly an End to €urozone's Sovereign Debt mini-Crisis, considering also the Boost that big Energy Findings would give to the Economy of Neighbouring Mediterranean EU Countries Italy, France and Spain, etc.
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However, Cyprus' pro"European" party (EUROKO), led by former EU Parliament's MEP Sylouris, denounced today that a Secret deal with Turkey even on Oil-Gas could be planned by Christofias :  The current President elected back on 2008, but now supported only by his 30% strong former Communist Party AKEL and contested by  a huge Majority of some 70% represented in all other Political Parties, from the Right to the Left of the political spectrum, which ask his Resignation, since a July 2011 deadly and catastrophic Explosion which killed 13 People, including the Chief of Cyprus' Naval Defense, and destroyed the biggest Power Plant of the island, immediately after his return from a crucial Geneva High-Level meeting with UNO's Secretary Gerenal Ban Ki Moon and the Leader of the Turkish Cypriot Community living in the areas still occupied by Ankara's Invasion and occupation Army. But only a prima facie justified complain lodged for a dishonoring, illegal act against him might trigger his "suspension" and subsequent condemnation by the Supreme Court (through an original "impeachement" procedure) according to Cyprus' Constitution, which excludes any Political Responsibility for the Country's President vis a vis its Parliament.

Apparently such a deal would practically mean that Cyprus' oil-gas findings might be exported through a Turkish pipeline, thereby practically cancelling EU's otherwise possible benefit from Direct Transport of NLG by Ships straight at European specialized Seaports, as the Foss II, the biggest and most modern NLG Terminal recently built in the Mediterranean, close to Marseille, (France), as well as several Italian and/or Spanish NLG terminals.

But the leader of Cyprus' biggest party, (DHSY) Democratic Rally's head, Nicos Anastassiades, speaking earlier to the European People Party's Congress of MEPs and Heads of State/Government in Marseille (France), near to the new, Foss II NLG Mega-terminal, appeared even more focused on the island's Natural Resources' potential benefits for Europe : - "The very Encouraging, Initial Findings of Oil and Gas reserves, within the EEZ of Cyprus in the Eastern Mediterranean, ...with no doubt, present a huge Opportunity for Europe as a whole : (Because) they could save Europe from the Instability and Uncertainty related to Energy Production and Transportation (NB) zones lying outside of the EU", Anastassiades pointed out.  

It's true that Christofias also stressed today that "New positive Perspectives open for the Future of the area", since "Cyprus enters inside Europe's Energy Map, with perspectives of substantial contribution to EU's Energy Security". But, unlike Anastassiades (See supra) he didn't explicitly say anything about "Transports", despite the fact that, at least Israel''s Delek company has already proposed to build together in Cyprus a NLG Terminal in order to liquify Gas produced in the area and ship it directly to EU's mainland.

EU Parliament has already adopted a Resolution, since 2010 in Strasbourg, caling for EU's systematic support to the creation of several NLG Terminals around EU's Seaports, and for Ship Transport of NLG throughout all Europe's Seas and Rivers, in an attempt to stop EU's dependence on External factors which may affect Energy Production and Transport through Third, Non-EU Countries, exposed to Natural Catastrophs, Conflicts, Blackmails, etc.  provoking disruptions and/or uncertainty.
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Geology Experts from France (including, f.ex. CNRS' Research Director Gilbert Bellaiche, etc), who had conducted Research in Egypt, Israel and Lebanon, up to Cyprus' souhern coasts had already warned "EuroFora"s co-founder, as early as since a 2001 PanEuropean/International GeoScience mega-Conference organized by Strasbourg's University here, that its was very "probable" to make important Gas findings from River Nile's delta up to Israel's and Lebanon coasts, continuing throughout Cyprus' southern coasts as a kind of underSea "flow" of hydrocarbon producing alleviations and ingredients moving accross the coastline. This was added to other Experts' speculations about the famous "Eratosthenes" Seamount, (the biggest in the Mediterranean), a former island swallowed by Seawaters in Ancient times, which is located inside Cyprus' Exclusive Economic Zone.

Further 2001 Research by "EuroFora"s co-founder clearly indicated that South-Eastern Mediterranean's overall Energy Resources in Oil/Gas, in the Arch formed by Egypt, Israel, Lebanon and Cyprus, could be Geologically similar to the recent Mega-Findings in the Gulf of Mexico, which are able to cover a Majority of 52% of USA's Energy needs according to former U.S. President G.W.Bush.

In consequence,previous Cyprus'Governments, starting by that of former Presidents Clerides and Papadopoulos, had already, systematically prepared the diplomatic, business and technical way for Oil/Gas findings since many years ago, leading to today's 1st concrete results.

But, meanwhile, several facts indicated that some circles should probably have guessed the immense Enerhy potential of the area at least as early as since 1999-2000. Something which could explain a lot about the unusually sharp Political developments which had followed particularly since that Date around Cyprus' political issue and Turkey's controversial and unpopular EU bid, etc..

However, the move now comes Timely at a moment when EU, (deprived from Energy sources, except from the declining Northern Sea deposits), is urgently seeking now ways to boost Growth mainly through enhanced Competitiveness, a factor of which is the proximity of abundant and safe Energy : A New Factor that €uroArea's Januaty 30 forthcoming Summit on Growth and Jobs could discuss at least on the sidelines of 26 Heads of State/Government Brussels' Top Meetings, (Comp. previous "EuroFora"s NewsReport).

In this regard, €uroArea Member Greece and Cyprus could obviously contribute by their World-class Merchand Fleets, Italy being the 1st big EU Country to benefit from the area's Resources, while Spain has already built several NLG Terminals in its coasts according to the idea endorsed by Spanish former EU Commission's vice-President Mrs Loyola de Palacio (in synergy, then, with "EuroFora"s co-founder) for the EU to include "Sea (and River) Highways" in the TransEuropean Networks of Energy Transports, France playing an obviously Strategic role because of its New, Mega-Terminal for NLG at Foss II, near Marseille, which could also transport NLG to Germany and the rest of Central Europe via Pipelines and/or by revitalizing the old Plan to open the Rhine-Rhone River Transport also for Ships of grand Gabarit : A practical possibility to link the Mediterranean with Central/Northern Europe via direct Ship transport of NLG, to which could contribute usefuly also Croatia, (that EU has just decided this December 2011 to accept as New EU Member on January 2013), by a coordinated use of both its Mediterranean/Adriatic Sea-Coasts and its part of Access to Danube River, (already opened to Grand Gabarit Ship Transport links with the Rhine river since 2001).

A European Coordination which might Timely be stimulated also by Cyprus' rotating EU Council's chairmanship scheduled for the period between July and December 2011.