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Energy expert Professor Panos Papanastasiou, from the Department of Civil and Environmental Engineering of the Faculty of Engineering of the University of Cyprus, described the Nicosia - Beirut agreement as “very good” during his appearance on the Alpha News programme.
He stated that the boundaries of the two countries’ maritime zones are defined along the “median line,” making the delimitation of the two EEZs fair and equitable.
New EEZ Agreement
At the same time, he stressed that the Cyprus - Lebanon agreement provides for joint exploitation and unified development of hydrocarbon reservoirs that extend across the two EEZs a development viewed very positively by hydrocarbon companies.
He recalled that Cyprus is attempting something similar with Israel regarding the “Aphrodite” field; however, that agreement has not yet been signed. When asked whether Cyprus could seek EEZ delimitation with Syria as well, Professor Papanastasiou expressed the view that dialogue with the neighbouring country is possible, although “things may be more difficult.”
Electrical Interconnection
Regarding the joint request by Cyprus and Lebanon to the World Bank for a feasibility study on a potential electrical interconnection between the two countries, Professor Papanastasiou urged Nicosia to consider Lebanon’s insufficient electricity generation, which results in power cuts and causes major problems.
The new agreement is considered improved for both sides. From the government’s perspective, it is noted that it is based on the 2007 agreement, although with significant changes and amendments. These adjustments were deemed necessary due to Lebanon’s disagreements with neighbouring states, which were later resolved, creating new circumstances that needed to be addressed.
