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THE UPPER HOUSE of the Egyptian bicameral Parliament has approved a draft law that cancels the maritime borders of an exclusive economic zone (EEZ) between Egypt and Cyprus, according to reports from Cairo.
The bill foresees the delineation of a new EEZ in the presence of Turkey as a third party.
The Agreement between the Republic of Cyprus and the Arab Republic of Egypt on the Delimitation of the Exclusive Economic Zone was signed on 17 February 2003.
Ekathimerini.com reports that Khaled Abdel Qader Ouda, the lawmaker who submitted the bill, said this invalidates the deal since Egypt had the right to be present at the signing.
He reportedly said a renegotiation could mean billions of dollars for Egypt.
Drilling in Cyprus EEZ has already begun and is being carried out by Houston-based Noble Energy, off Cyprus south-eastern coast.
In the past, Cyprus has signed delineation agreements with Egypt, Israel and Lebanon which paved the way for exploiting hydrocarbon deposits that criss-cross the islands boundaries.
Reports suggest Egypt scrapping maritime deal with Cyprus
ekathimerini.com | Egypt upper house okays bill scrapping Cyprus EEZ deal
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As far as i know, The Shura Council (the upper house of the Egyptian bicameral Parliament) cant pass legislation without the People’s Assembly..Council only serves to look into draft laws...
Can our Egyptian friends shed some light on this? Whats the chance of this bill to be in effect?
The bill foresees the delineation of a new EEZ in the presence of Turkey as a third party.
The Agreement between the Republic of Cyprus and the Arab Republic of Egypt on the Delimitation of the Exclusive Economic Zone was signed on 17 February 2003.
Ekathimerini.com reports that Khaled Abdel Qader Ouda, the lawmaker who submitted the bill, said this invalidates the deal since Egypt had the right to be present at the signing.
He reportedly said a renegotiation could mean billions of dollars for Egypt.
Drilling in Cyprus EEZ has already begun and is being carried out by Houston-based Noble Energy, off Cyprus south-eastern coast.
In the past, Cyprus has signed delineation agreements with Egypt, Israel and Lebanon which paved the way for exploiting hydrocarbon deposits that criss-cross the islands boundaries.
Reports suggest Egypt scrapping maritime deal with Cyprus
ekathimerini.com | Egypt upper house okays bill scrapping Cyprus EEZ deal
*****************
As far as i know, The Shura Council (the upper house of the Egyptian bicameral Parliament) cant pass legislation without the People’s Assembly..Council only serves to look into draft laws...
Can our Egyptian friends shed some light on this? Whats the chance of this bill to be in effect?
