Europe

Cyprus eyes gas reserves as bailout guarantee

Island hopes estimated seven trillion cubic feet of natural gas off south coast can help secure bailout funds.
Last Modified: 21 Mar 2013 19:31

Cyprus plans to speed up offshore natural gas exploration as a way of attracting desperately needed investment to save its teetering economy.

The country hopes to start exporting the resource in 2018, but energy analysts say extracting the gas will prove costly and slow.

Al Jazeera's Jonah Hull reports from Nicosia.

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