Slow Developments in MENA Region Good News for European Energy Security
Cyclically, the need of new energy sources for Europe turns the spotlight on the MENA region. This happened also in the last hours, and this time the effects could be more evident, as the international community is stepping up efforts to find a solution for the standoff in Cyprus, while giving a helping hand to Egypt.
For instance, Nicosia and Washington sent conciliatory messages, paving the way to an effective negotiation table. The conditions are there.
“We congratulate Mustafa Akinci on his election as the leader of the Turkish Cypriot community. We continue to support the negotiation process conducted under the auspices of the United Nations and Special Negotiator Eide and to reunify the island as a bizonal and bicommunal federation. And we reiterate our willingness to assist in any way that the parties would find useful” US State Department’s Acting Deputy Spokesperson, Jeff Rathke, said on Monday, commenting on the recent elections in the “Turkish Cyprus”.
A solution to the arm-wrestling between Nicosia and Ankara would create the right framework for additional explorations in Cyprus’ waters.
Cyprus’ President Nicos Anastasiades said that he intends to hand over to Akinci information on 28 anti-personnel minefields in the Pendadaktylos area, in a sign of easing tensions.
“It is with special satisfaction that I ascertain the willingness of the new leader of the Turkish Cypriots, Mr Akinci, to engage in a dialogue for the adoption of the Measures that will secure a climate of trust and hope among the entire people of Cyprus, Greek Cypriots and Turkish Cypriots” Anastasiades wrote on Tuesday.
Also on Tuesday, Italy’s Enel said it is ready to invest in renewable technology in the Mediterranean area, with a special focus on Egypt, which recently said it intends to produce 20% of its energy from renewable sources by 2020.
“Recently, we have won 425 MW of new wind power in South Africa, while in the Mediterranean we are participating in various tenders (particularly in Morocco, Egypt and we are considering Algeria). This market is growing rapidly and has great potential” Francesco Venturini, CEO of Enel Green Power, said as reported by Enel’s website.
This move could limit Egypt’s gas consumption, increasingly the probability of the Mediterranean country becoming once more a net gas exporter.
Meanwhile, Cairo is preparing Adabiya port in Suez in order to receive the second LNG regasification unit.