The deal is expected to help the small island nation of Cyprus create a modern air force capable of defending itself against the aggression of Turkey, which since 1974 and against numerous United Nations resolutions illegally occupies 37% of Cyprus' territory and since then pursues against the Geneva conventions massive colonization in an apparent attempt to modify the ethnic makeup of the country.
"The acquisition process is going on smoothly. We hope in the next fiscal year, Cyprus Air Force will be able to clinch the deal," Cyprus' Defense Minister, told reporters at the Paris Airshow.
It is rumored that the Republic of Cyprus will prefer a combination of General Dynamics F-16 fighter jets and Eurofighter Typhoons for political reasons.
The discovery of the Block 12 natural gas reserve in January 2012 changed Cyprus from a country with no natural resources into a natural gas powerhouse. According to surveys that were published this past June, there is a gigantic natural gas reserve in that area, which contains $60 billion worth (non-capitalized) of natural gas. Noble Energy Inc. (NYSE: NBL), which holds the Block 12 concession, is performing the drilling.
