Cyprus has announced that it would allow a proposed Israel-Turkey gas pipeline to cross its national waters only when its relations with Turkey improve; the two countries have no diplomatic relations since the Turkish invasion and the territorial split in 1974.
Israel discovered large amounts of gas off its coast in 2010 (the Leviathan gas field is estimated to hold about 470 bcm of gas) and entered into negotiations with Turkey to trade gas. A tender for exporting gas through a gas pipeline from the Leviathan gas field off Israel to Turkey was organised in 2014. Bids ranged between 7 bcm/year and 10 bcm/year. The Leviathan gas field, developed by Noble Energy, Delek, Avner Oil, Ratio Oil and Woodside, is estimated to hold about 540 bcm of gas. In September 2013, Turcas had submitted a US$2.5bn offer to build a submarine pipeline from Israel to the Mersin province of Turkey.