Cyprus Bailout: Russia Misses Chance for Natural Gas

Negotiations for Cyprus’ bailout, which has hinged largely on its hydrocarbons future, have ended with Russia missing the chance to swap aid for offshore exploration licenses and the Greek Cypriots agreeing to an EU bailout package that hits at the Russian oligarchy by shutting down the island’s second-largest bank. ...

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Can Natural Gas Save Cyprus?

After Cyprus was left scrambling to salvage a bailout package left nearly dead after a titanic misstep last week, the country’s new-found energy potential finally entered the conversation despite assurances from on high that it would not. ...

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Energy Reserves No Quick Fix for Cyprus

The discovery of significant energy reserves in the eastern Mediterranean over the past two years has been held up as a beacon of hope for debt-crippled Cyprus. Top officials have repeatedly highlighted the prospect of future income from the gas reserves as a way out of the country’s current economic mess. Most recently, President Nicos Anastasiades said Cyprus would compensate bank depositors who have lost ...

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Mediterranean Energy: Cyprus Election Edition

Another day, another troubled European economy punishes its leaders for not being able to wade out of the fiscal muck that continues to paralyze much of the continent. This time around, Cyprus turned out to deliver one of the most decisive victories the divided island nation has ever seen, with 57% of voters casting their ballots for the Democratic Rally Party’s Nicos Anastasiades in a run-off against the C ...

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Greece Backs Gid for Caspian Natural Gas Route as Pipeline Rivalry Intensifies

Greece, Italy and Albania signed an agreement Wednesday backing a proposed pipeline to transport natural gas from the Caspian Sea to western Europe, intensifying the rivalry with a competing project. The 800-kilometer (500-mile) Trans-Adriatic pipeline system, or TAP, would have an initial annual capacity of 10 billion cubic meters (353 cubic feet) of natural gas from Azerbaijan. ...

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