Israel’s Peres to discuss natural gas, Turkey in Cyprus

Israel’s Shimon Peres is in Cyprus for a two-day official visit where he is expected to discuss natural gas exploration and the construction of a joint processing plant, as well as Turkey’s threats in the eastern Mediterranean.
He was received at Larnaca airport by Foreign Minister Erato Kozakou Marcoullis.
Peres will sign four bilateral agreements with his counterpart, Demetris Christofias, reciprocating the Cypriot leader’s visit last March, but the main topic of discussion is expected to be Israel’s recent discovery of the 16 trillion cubic feet natural gas deposit in the Leviathan basin.
He is accompanied by officials from Delek who have developed the LNG find in Israeli waters together with Texas-based Noble Energy.
Noble is currently in exploratory drilling in the adjacent Cyprus offshore block, dubbed “Aphrodite”, where Delek has an option to acquire a 30% stake and co-develop any gas finds.
Turkey, upset that Cyprus has delineated its Exclusive Economic Zone with Israel and Egypt in order to look for offshore hydrocarbon deposits, sent out two exploration vessels to conduct its own surveys in the area and put a claim to the gasfields.
Israel, undeterred by Turkey’s threats that it would defend its vessels in international waters, responded a month ago by sending out military aircraft that flew sories over Cyprus, while a group of Israeli military helicopters landed in Larnaca airport for a search-and-rescue training mission.
Peres is expected to meet with the head of the Greek Orthodox Church of Cyprus, Archbishop Chysostomos II, as well as the House President and socialist Edek party leader Yiannakis Omirou, and the opposition Disy party leader Nicos Anastassiades.
Shani Cooper Zabida, deputy head of mission at the Israel Embassy in Nicosia, was quoted by the Jerusalem Post as saying that Cyprus buys almost 90% of its refined oil from Israel, and Israeli companies have built three desalination plants in Cyprus.
Christakis Papavassilou, president of the Cyprus-Israel Business Association, said that in light of faltering ties with Turkey, gas-line blow-ups in Egypt and local offshore gas finds, it would be logical for Israel to turn to its island neighbour, the paper added.