After the completion of the second licensing round in Cyprus, the Turkish foreign ministry issued a warning to companies involved in oil and gas exploration in Cyprus. “those companies cooperating with Greek Cypriot Administration will not be allowed to take part in new energy projects in Turkey. We, therefore, repeat our call to the relevant countries and oil companies to act with common sense, not to engage in activities in these areas which are disputed”, the statement said.
The strongly worded statement raises the question of investments in disputed areas in general. Will investments by foreign oil and gas companies be met with similar measures elsewhere in the Eastern Mediterranean where disputed areas have not been settled?