Cyprus Draws Norway Parallel After Latest Gas Quest Failure

March 26, 2015 2:25 PM

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Cyprus' president sought to draw a parallel with oil-rich Norway after the latest failure in the Mediterranean island nation's quest for gas.

President Nicos Anastasiades told reporters Thursday he's not disheartened by the failure of an Italian-South Korean consortium to find commercially viable amounts of gas during exploratory drilling in an area off Cyprus' southern coast.

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