A consortium including ExxonMobil and Qatar Energy International has discovered new natural gas reserves beneath the seabed south of Cyprus. This find is expected to improve Europe's energy independence by reducing reliance on Russian hydrocarbons, while enhancing the energy partnership between Cyprus, Greece, and Israel. John Sitilides, a geopolitical strategist, emphasized the importance of supporting this hydrocarbon network for European energy independence and re-industrialization. Cypriot officials, including spokesman Konstantinos Letymbiotis, revealed that the president was informed about the discovery at the Pegasus-1 well during a teleconference.
A consortium made up of ExxonMobil and partner Qatar Energy International has made a second natural gas discovery beneath the seabed south of Cyprus, reinforcing the region's role as an energy exporter.
New natural gas discoveries in the eastern Mediterranean could help Europe lessen its dependence on Russian hydrocarbons by diversifying its energy supply, bolstering an energy partnership between Cyprus, Greece, and Israel.
Washington and Brussels would be wise to support this hydrocarbon network to develop a greater measure of critical energy independence for Europe's hopeful re-industrialization.
The Cypriot government spokesman stated that ExxonMobil's vice president, John Ardill, briefed Cypriot President Nikos Christodoulides about the discovery at the Pegasus-1 well.
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