Cyprus and Israel: A Precarious Energy Partnership

Περίληψη

The question of whether a weak Cyprus should team up with a regional power such as Israel to explore its energy reserves is causing much debate in Cyprus. But, this might no longer be a matter of choice for Cyprus but of national and economic necessity given its weak political position and considering that all hope for reviving its economy now appears to lie with future development of its potential oil and natural gas resources. Cyprus also needs Israel for security reasons because without the protection of Israel’s defense umbrella it is doubtful if any energy company would brave Turkey’s threats against Cyprus to explore its energy reserves. Without Israeli protection, Israeli energy reserves and financial participation, Cyprus’ energy future looks less than encouraging. Furthermore, an inevitable Turkey-Israel rapprochement (urgently sought by the US) is making Cyprus apprehensive considering that Turkey is threatening Cyprus and for more than 40 years is occupying militarily 40% of its territory.