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This is why it is so important to establish a federal government overseeing both sides of the island with the authority to grant licenses and draw revenues from these resources, he said.

Mr. Nami added that the natural gas supply “is going to change the whole atmosphere in the region, create huge interdependence, great benefits, make the Western alliance much stronger in the region.”

“There is a very positive scenario there which is within our grasp,” he said. “All we need is to focus on resolving the Cyprus issue in the coming months and then this will unlock very positive developments.”