In a letter to UN Secretary-General Antonio Guterres, South Cyprus President Anastasiades responded to a proposal by Turkish Cypriot President Mustafa Akinci regarding the co-management of natural gas affairs.
Anastasiades identifies three pillars, expressing the view that these are indeed the result of convergences, ”a complete framework within which all matters relevant to hydrocarbons have already been agreed’’.
- Federal Cyprus following the Settlement will continue being a contracting party to the 1982 UNCLOS convention and all matters pertaining to the maritime zones will be regulated by the said Convention.
- Territorial waters, continental shelf, contiguous zone, and EEZ as well as maritime delimitation and settlement of any disputes with neighboring states, fall within the federal government competencies.
- All-natural resources of Cyprus, including hydrocarbons, will constitute federal resources managed by the federal government and consequently, any revenues accrued from the exploitation of the state’s natural resources will be allocated to the federal government.
Anastasiades in his letter expresses readiness to discuss additional safeguard mechanisms to the benefit of the Turkish Cypriots from the gas revenues and exploration, in the framework of a comprehensive solution of the Cyprus Problem.
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