Turkey Suspends Italy’s ENI Projects Over Cyprus

From MarketWatch

By Claudia Assis

Turkey suspended energy deals with Italy’s ENI SpA E -2.15%  over the energy firm’s involvement in oil and gas drilling in Cyprus, according to media reports citing Turkey’s energy minister.

Eni had been involved in the Samsun-Ceyhan pipeline project, which will carry oil from the Black Sea to Turkey’s Mediterranean coast.

Eni in late January signed exploration and production-sharing agreements with Cyprus’ Ministry of Commerce, Industry, and Tourism to develop three offshore blocks in the Levantine Basin. It was Eni’s first foray into the island, now in turmoil over a bailout.

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