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:
“The Declaration [of Independence] was not a protest against government, but against the excess of government. It prescribed the proper role of government, to secure the rights of individuals and to effect their safety and happiness. In modern society, no individual can do this alone. So government is not a necessary evil but a necessary good.”
—Gerald R. Ford (b. 1913)
“His eloquence was of every kind, and he excelled in the argumentative as well as in the declamatory way. But his invectives were terrible, and uttered with such energy of diction, and stern dignity of action and countenance, that he intimidated those who were the most willing and the best able to encounter him. Their arms fell out of their hands, and they shrunk under the ascendant which his genius gained over theirs.”
—Philip Dormer Stanhope, 4th Earl Chesterfield (1694–1773)
“When I was growing up I used to think that the best thing about coming from Des Moines was that it meant you didn’t come from anywhere else in Iowa. By Iowa standards, Des Moines is a mecca of cosmopolitanism, a dynamic hub of wealth and education, where people wear three-piece suits and dark socks, often simultaneously.”
—Bill Bryson (b. 1951)