Cyprus’ offshore gas is co-owned: says Turkey

The Turkish Ministry of Foreign Affairs has issued a press statement in relation to the economic problems of South Cyprus.

The statement says that South Cyprus should not be using the offshore resources of the island as if they were the sole owners. They should desist from attempting to use these resources as security on loans or as part of any mutual fund. If they did so, this could lead to a crisis in the region.

The statement continues that the Greek Cypriots should bear in mind that the Turkish Cypriots have joint rights to these resources and that Turkey is determined to protect its own continental shelf interests as well as protect the rights of the Turkish Cypriots.

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