Cyprus poised to make ‘continuous concessions’ by energy giants

Energy expert Dr Charles Ellinas on Wednesday warned that the Cypriot government is likely offering “continuous concessions” to multinational energy corporations so as to persuade them to drill for natural gas under the seabed off the island’s coast.

He was speaking after ExxonMobil and QatarEnergy jointly declared the ‘Pegasus’ field and the ‘Glaucus’ field, which are both located in Block 10 of Cyprus’ exclusive economic zone (EEZ), to be “marketable”, and was keen to play the development...