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Cyprus can help Europe with a gas question

20.05.2014

According to analysts, the size of gas stocks in Cyprus' shelf is 6 trillion cubic feet. In case of positive results of drilling, Cyprus can increase its resources in addition by 4–5 trillion cubic foots.

Such giants in the oil and gas industry, as Eni, Korea Gas Corp. Noble Energy and Total will participate in development of various blocks of a field and will start the exploration already this year.

Such situation evidently not only will play a positive role in national economic redevelopment , but also will allow Cyprus to help to reduce dependence of Europe on the gas delivered from Russia. Probably, over time Cyprus will manage to restore the reputation of economically stable country.

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