Friday, April 20, 2012

Southeastern Mediterranean hydrocarbons - A new Energy Corridor for the EU?

The (a) confirmation of significant quantities of hydrocarbons in Cyprus, (b) the scientific estimates of equally significant quantities in the south and southwest of the Greek island of Crete and (c) the officially declared increased cooperation between Cyprus, Israel and Greece to jointly exploit their hydrocarbon deposits may prove to be a tremendous opportunity not only for Cyprus, Greece and Israel but for the EU as a whole.  

World renowned scientists claim that the hydrocarbon deposits that lie south and southwest of the island of Crete are huge; and maybe bigger than those in the Levantine Basin; they dare to state that within the EEZ of Greece there may be as much as 51 tcm of natural gas! Could this lead into the making of a new energy corridor for the EU? Shouldn’t the EU be more actively involved in the efforts of its member countries, Greece and Cyprus? Isn’t this for the EU a project of Pan-European interest thus include it in its energy policy, coordinate and assist with technical knowhow but also with political leverage and other? As critical year 2020 is around the corner, aren’t the already scientific interpretations important enough to accelerate the EU think tanks and policy institutes view on the whole issue?

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Monday, April 2, 2012

Cretan Gas Fields – A new perspective for Greece’s hydrocarbon resources

It is our pleasure to introduce another valued paper produced by world accredited scientists, Mr. Alain Bruneton, Dr. Elias Konofagos and Professor Anthony E. Foscolos. A scientific document that attempts to explain why there must be hydrocarbon deposits in the south and southwest of offshore Crete, substantial deposits that are more than likely as substantial as those confirmed and estimated to exist in the Levantine Basin...

Cretan Gas Fields – A new perspective for Greece’s hydrocarbon resources

The already confirmed and estimated discoveries of substantial hydrocarbon deposits in the Eastern Mediterranean – such are those confirmed within the Exclusive Economic Zones (EEZs) of Cyprus and Israel – along with those discussed in this Paper (which more than likely lie offshore Crete), but also elsewhere within the EEZ of Greece, such is the area close and adjacent to Hydrocarbon Exploration Block #4 of Cyprus, signify that for the first time ever in Europe’s energy history, the EU may be guaranteed an uninterrupted supply of a traditional energy source! A most important development (and a pan-European one) that the government of Greece has to set as priority and ensure that an appropriate framework and solid plan are put in place in order to commence investigation as quickly as possible.

Closing, the estimated Cretan hydrocarbon deposits complete the European energy puzzle as they contribute to a now more than possible (long-term) scenario that envisages an Israel-Cyprus-Greece-Italy pipeline network, dictating a transit route that avoids non-EU countries and thus guaranteeing an uninterrupted energy supply source for the EU, of the EU.

Hoping that you will recognize the importance of this Paper as we did, we would be happy to receive your comments and queries on the subject.