Role As An Energy Hub
The eastern Mediterranean is home to vast reserves of natural gas. Noble Energy has already got promising results from the Leviathan gas field, off the coast of Israel (and edging into an area claimed by Lebanon), and is now drilling in the waters just south of Cyprus. Hence plenty of optimistic talk at the conference of co-operation between Cyprus and Israel to construct LNG terminals or a pipeline to transmit gas to energy-hungry Europe in competition with the network of pipelines, actual or proposed, from Russia and central Asia. Indeed, Noble apparently reckons a pipeline could be in operation as soon as 2014 or 2015. Surveys suggest more than 100 trillion cubic feet (2.831 trillion cubic metres) of reserves lie untapped in the eastern Mediterranean basin between Cyprus and Israel - almost equal to the world's total annual consumption of natural gas.
Read more about this topic: Economy Of Cyprus
Famous quotes containing the words role, energy and/or hub:
“Such is the role of poetry. It unveils, in the strict sense of the word. It lays bare, under a light which shakes off torpor, the surprising things which surround us and which our senses record mechanically.”
—Jean Cocteau (1889–1963)
“Children are intensely invested in getting their way. They will devote more emotional and intellectual energy to winning arguments than parents ever will, and are almost always better rested.”
—Jean Callahan (20th century)
“There is no object so soft but it makes a hub for the wheel’d universe.”
—Walt Whitman (1819–1892)