According to published maps, Jerusalem recognizes the Greek Exclusive Economic Zone (EEZ), which is the continuation of the Cypriot EEZ. However, Greece has not yet recognized its EEZ because of a disagreement with Turkey regarding the Kastelorizo shelf. The maps were also sent to Greek authorities. They describe the course of the gas pipeline which will transfer gas produced by American Νoble Εnergy Ltd. from the Leviathan reservoir to Europe, through an undersea pipeline crossing Greece. The gas pipeline should traverse the sea area, which according to international law, is part of the Greek EEZ. It travels the eastern Mediterannean areas of Kastelorizo, Ro and Megisti. Until the end of April, Israel will determine the amount of natural gas resources in Leviathan and the level of gas to be exploited.
By this proposal, Israel recognizes the Greek EEZ in the area and offers an advantage that Greece can use during negotiation procedures to support its claims on the area. In practice, this cooperation will set up a powerful energy coalition between Greece, Cyprus and Israel. The mining and operating part will be undertaken by an American company.
Yesterday, Greek Prime Minister George Papandreou met with the Israeli Foreign Minister Avigdor Lieberman. Meanwhile, the Cypriot Parliament ratified unanimously the agreement with Israel on the EEZs of the two countries. The agreement, also ratified by the Israeli Parliament, provides for a dispute resolution process which can end up even to arbitration.