If the companies do not reach an agreement within 180 days, the dispute will be referred to an international expert who will try to resolve the issue within another 180 days. The agreement between the companies will in any case be brought to the approval of the states.
As long as there is no agreement on the part of the companies over the 360 days, even through an international expert, the issue will return to the decision of the states. It is also stipulated that the states retain their right to the gas reserves in their territory.
Energy Minister Dr. Yuval Steinitz: “Thanks to the relationship of trust created between the governments of Israel and Cyprus, we have reached an agreement that will bring us closer after more than ten years to resolving the dispute over the Aphrodite-Yishai natural gas reservoir.
“My colleague Minister Natasha Philides and I have decided to give energy companies on both sides a limited amount of time to try and talk to each other to reach an understanding agreement that will end the dispute. If that does not happen, the Israeli and Cyprus governments will Citizens of the two countries. “