Europe(Washington Insider Magazine)-Energy has been a trending topic everywhere since the beginning of the year. Europe has led the charge in discussing a potential alternative energy shift, especially in the wake of the most recent COP26 summit.
In the wake of the Russian-Ukrainian war, European countries have been searching for consistent alternative energy and gas resources. Russian political strategy and limitations on fuel via the Nord pipeline are bringing about a tertiary energy crisis in Europe just before the bitter cold winter season.
While the officially stated reason for the temporary closure was maintenance, citizens hedge their doubts – with many offering conjecture that this could be a political move by President Vladimir Putin to reinforce his power throughout the region.
However, a recent discovery near Cypress may give the region hope for the fall and winter seasons. Trillions of cubic feet of hydrocarbon have been found, which is a massive step forward for alternative energy sourcing and procurement. The largest discovery is the second one on the island, with the first featuring a smaller quantity (but equally rich quality) of hydrocarbon for alternative fuel purposes.
Other major gas companies have found success off of the Cypress Coast, prompting further action from the Energy Ministry. Currently, there are plans to take out the consortium’s Tungsten ship along the coastline to assess the quantities of total accruable natural resources.
The Cypress government is in full support of this maneuver by European agencies, as the Russian-Ukrainian war has brought a complete disparity of the resources currently available. The goal at this point is to survive the seasonal shift and make it to spring, where tensions may ease.
This is also a major step forward for the EU’s goal to transition to cleaner energy through 2050, stated most recently at the latest COP26.
