MENELAOS HADJICOSTIS
Israel and Cyprus said Monday that they have made “significant” headway in resolving a long-running dispute over an offshore natural gas deposit and say they are committed to quickly reaching a deal as Europe looks for new energy sources.
Cyprus Energy Minister Natasa Pilides and her Israeli counterpart, Karine Elharrar, held talks in the Cypriot capital, pledging to press toward a “fair and swift resolution.”
Israel claims that a portion of Cyprus’ Aphrodite deposit estimated to hold some 4.4 trillion cubic feet of natural gas falls inside its nearby Ishai field, along an offshore demarcation line that separates the two countries’ exclusive economic zones.
Negotiations have stretched for several years, but Europe’s need to wean itself off Russian energy sources since the war in Ukraine appears to have added a new sense of urgency to the talks. Russia has cut back natural gas supplies to Europe, driving up prices.
Cyprus Energy Minister Natasa Pilides and her Israeli counterpart, Karine Elharrar, held talks in the Cypriot capital, pledging to press toward a “fair and swift resolution.”
Israel claims that a portion of Cyprus’ Aphrodite deposit estimated to hold some 4.4 trillion cubic feet of natural gas falls inside its nearby Ishai field, along an offshore demarcation line that separates the two countries’ exclusive economic zones.
Negotiations have stretched for several years, but Europe’s need to wean itself off Russian energy sources since the war in Ukraine appears to have added a new sense of urgency to the talks. Russia has cut back natural gas supplies to Europe, driving up prices.
