Natural resources have long been the cause of both development and conflict. Of course, in resource-abundant countries natural resources have, more often than not, caused conflict rather than development. However, the same cannot be said for third countries, often colonial powers, which exploited such resources abroad for their own development. This is one of the reasons why natural resources have been often referred to as a “curse”; an additional reason is the implications that the exist-ence of natural resources has for the management of the economy (e.g. high prices, low exports, etc.).
Cyprus has itself effectively acquired the status of a resource-abundant country when recently, on what was called “an historic” day, the President of the Republic Demetris Christofias announced that the Block 12 of the Cypriot Exclusive Economic Zone (EEZ) “contained an estimated 5 to 8 trillion cubic feet (tcf) of natural gas”. As “the second-largest hydrocarbon discovery in Europe in more than a decade”, the Cypriot natural gas paves the way for not only local but also regional development and cooperation. However, there is always the flip side of the coin and that is the international rivalry that may be triggered due to the alteration of the regional balance of power as a result of this and other developments. Below I briefly examine the features of the limited crisis surrounding the Cypriot natural gas and the Eastern Mediterranean more generally, as well as the features of a potential international cooperation at the re-gional and trans-regional level. The goal is to deter-mine whether bilateral disputes could be bridged, given the political and geopolitical realities at hand, to the end of avoiding a crisis escalation in the Eastern Mediterranean.
To read the complete version of this article download Political Reflection Quarterly Vol.3 No.2, 2012, pp.56-59, here