· Egypt and Greece have signed a maritime deal to demarcate the sea boundary between the two countries.
· The deal also includes an exclusive economic zone for oil and gas drilling rights.
Egypt and Greece have signed a maritime deal to demarcate the sea boundary between the two countries. The deal also includes an exclusive economic zone for oil and gas drilling rights.
The deal is regarded as a retort to the controversial agreement signed between Turkey and Libya last year. The Turkey-Libya deal was widely criticized as a violation of the economic rights of Egypt, Cyprus and Greece in the oil-rich sea. The European Union also supported the view that the deal was a violation of international law and threatened the stability in the region. Greece and Turkey have been at loggerheads for decades over the sea boundaries. The discovery of natural gas and drilling plans in the east Mediterranean has aggravated the issue between the two countries. Last month, the Greek government was alarmed by plans by Turkey to proceed with an oil-and-gas research mission south of Greek islands in the eastern Mediterranean.
The current agreement empowers Egypt and Greece to plan and tap the benefits from oil and gas resources available in the exclusive economic zone. Speaking at the signing ceremony in Cairo, Foreign Minister of Egypt, Mr Sameh Shukry stated that the agreement between Greece and Egypt will play a critical role in maintaining peace and stability in the East Mediterranian region. Greece’s Foreign Minister Nikos Dendias hailed the Egypt-Greece deal as as “an exemplary agreement’.
