Cyprus recently concluded its second round of license bidding for offshore blocks 2, 3, 9 and 11. A joint venture between ENI and KOGAS (Italian and Korean interests) took the bid for blocks 2 and 3, while the consortium of Total-Novatek-GP Global Resources (French and Russian interests) took block 9. France’s Total will negotiate independently for block 11. Negotiation on these contracts is expected to be completed in 2013.

The EU – like the rest of the world – has an insatiable hunger for energy and Cyprus can now fulfill that appetite like manna from heaven.

Based on test results, the Republic has the potential of becoming the center of a multi-billion-dollar gas industry, and foreign powers, including the Troika are aware of that. This nanking conglomerate institution is using the old “carrot and the stick” principle to enforce a dubious master plan. To succeed, it is imperative to ensure political stability and the EU aims to play a pivoting role as to what happens next. Cyprus will become a superpower in the Mediterranean region…