Title: The role of economic diplomacy on energy projects: the exploration of natural gas resources at Cyprus exclusive economic zone

Authors: Konstantinos J. Hazakis; Michalis S. Chailis

Addresses: Department of International Economic Relations and Development, Democritus University of Thrace, University Campus, PC.69100, Komotini, Greece ' Ministry of Finance, PC 1439, Nicosia, Cyprus; Department of International Economic Relations and Development, Democritus University of Thrace, University Campus, PC.69100, Komotini, Greece

Abstract: Cyprus decided to explore its exclusive economic zone (EEZ) in 2007 implementing a strategy to maximise all derived positive spillovers for its foreign policy. However, the lack of indigenous expertise and state of art technology obliges Cypriot Government to search crucial foreign direct investment inflows in the energy sector. The article analyses Cypriot energy tactics focusing on the interaction between national economic security and economic diplomacy. The article uses the methodological pillars of political neo-realism taking into consideration that access to and control of natural energy resources is a key factor of national economic security. The research spots light on the implicit/explicit consequences of Cyprus energy diplomacy on national economic power as well as on Cyprus conflict/cooperation dynamics with neighbouring states.

Keywords: Cyprus; exclusive economic zone; EEZ; economic diplomacy; natural gas resources; national economic security; national power; energy interdependency; energy security; energy diplomacy; conflict; cooperation.

DOI: 10.1504/IJDIPE.2013.056998

International Journal of Diplomacy and Economy, 2013 Vol.1 No.3/4, pp.291 - 308

Received: 14 Jan 2013
Accepted: 11 Mar 2013
Published online: 12 Jul 2014 *

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