Security
Lebanon, Cyprus Look to Natural Gas Reserves

BEIRUT — Cyprus President Demetris Christofias and Lebanese President Michel Sleiman have agreed to boost cooperation and look into ways to explore offshore oil and gas fields that experts believe may have abundant natural gas deposits. But these energy fields lie in a politically tricky area in the waters between Lebanon, Cyprus and Israel.

In a meeting Thursday with the Lebanese president, the Cypriot leader touted the economic growth prospects that could come from the discovery of large reserves of hydrocarbons off the coasts of the two countries.

Those hydrocarbon fields lie in waters between Cyprus and Lebanon and Israel, spanning what are called the exclusive economic zones of each country.

Lebanon and Israel have overlapping claims to an area that spans about 850-square-kilometers of sea.

While all three countries could all profit from finding energy reserves, maritime border disputes have prevented expedient exploration.

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#energy fields #maritime borders #growth prospects