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Cyprus, Israel vow closer cooperation on energy, security

Xinhua, July 28, 2015 Adjust font size:

Cyprus and Israel said on Tuesday they reached an agreement to strengthen their ties on energy issues and on mutual security.

Cypriot President Nicos Anastasiades and Israeli Prime Minister Benjamin Netanyahu told a joint press conference after talks in Nicosia that the two countries would try to jointly exploit natural gas on the borderline of their respective economic zones in the eastern Mediterranean.

They will also explore the possibility of using a joint pipeline and electricity grid to reach European markets, as both countries are developing gas fields found in their exclusive economic zones.

"There is palpably renewed energy in our relationship; I mean that figuratively and literally... We think that by cooperating with each other we can take it out more easily, we can market it better, to the betterment of both our societies," said Netanyahu.

Israel had tapped two gas fields reportedly containing 24 trillion cubic feet of natural gas and Cyprus has discovered a modest field containing about 5 trillion cubic feet of natural gas.

Anastasiades said that with he and Netanyahu agreed on exploration and exploitation of hydrocarbon assets is a sovereign right of the two countries.

"That is instrumental in the wider regional context and as part of a reciprocally beneficial relationship," Anastasiades said.

Netanyahu paid an eight-hour long visit to Cyprus, arriving amid tight security measures.

He said the two countries would explore tightening security cooperation as they are close to a region in which terrorism and violence are endemic.

Last month Cyprus sentenced a Lebanese man to six years in jail after he was found in possession of 8.2 tons of ammonium nitrate used repeatedly by Hezbollah in preparing explosive devices.

"We want to achieve peace and peace depends on security. If you don't have the capacity to defend that peace then it collapses very rapidly in our area," Netanyahu said.

Cyprus has built over decades friendly relations with Arab countries but this did not prevent the eastern Mediterranean island to also develop close ties with Israel. Endit