Cypriot Gas Rhetoric Increases: Will Pragmatism Prevail?

摘要

BMI View: Eni's recent investment in Cyprus's natural gas potential may cost the Italian major its relationship with Turkey if the Turkish government makes good on the pledge to sever ties with companies operating in Cyprus. However, while the situation is troublesome for Eni, it may be that Turkey also loses from enduring tensions with Cyprus, as the Turkish market is best suited to taking Cypriot gas. Indeed, despite a great deal of negative rhetoric, there is scope for pragmatism as the Eastern Mediterranean edges closer to a natural gas-powered future.