Assistant Secretary of State for European and Eurasian Affairs Philip Gordon has expressed the need for a solution to the Cyprus problem as soon as possible.

Speaking during a press conference held here on Friday, Gordon said that “we are obviously very interested in seeing a solution to the Cyprus problem”, expressing at the same time regret that “there hasn’t been more progress over the past years”.

“We think that both sides would benefit from an agreement on bizonal, bicommunal, federation and we will continue to urge the parties to negotiate seriously”.

He also expressed his country’s support to the UN-led direct talks that are taking place under the UN auspices.

Asked whether the U.S. are in favor of imposing any dateline into the negotiations and whether he believes that time is running out, he said “obviously we would like to see a solution as soon as possible”

“If you ask me when the target should be a comprehensive settlement it really is as soon as possible. It’s different from say it needs to be a deadline, an artificial deadline”, he added.

He noted that a Cyprus solution is necessary for the communities in the island “to prosper, and for all of Cyprus to succeed and for this region to be peaceful, and prosperous and stable”.

“In a sense, the deadline is now because with every passing day without a settlement people are not doing as well as they should be and there are risks to regional stability. But we can’t put an artificial timetable on it, we can’t force the parties to agree, ultimately they should agree out of their own mutual interest”, he added.

He stressed that “and as exhausting as it may be we are going to keep trying and lending our supports to the process”.

Asked whether he discussed the issue of natural gas with President Demetris Christofias and Turkish Cypriot leader Dervis Eroglu, he said that he discussed this issue with them as well as with his other interlocutors “because it looms so large”.

Noble announced last December that drilling revealed a gross resource range of 5 to 8 trillion cubic feet (Tcf), with a gross mean of 7 Tcf. In the second licensing round, five companies and ten join ventures submitted applications for Cyprus` remaining 12 offshore blocks.

The US top official said that “the potential natural gas finds around the island are really a potential win-win for all of the communities and citizens of Cyprus and of the region. I think it underscores even more the need for a comprehensive settlement that would entail sharing of the revenues that would come from this development and it could really facilitate a settlement”.

He added that “it equally has the potential to be divisive and I was clear with those I spoke to about that as well. And there are risks associated with energy finds as there have been in other parts of the world if there is a dispute as to who gets to benefit from that energy and from those resources”.

“So, we are strongly urging all of the parties involved and that’s the Republic of Cyprus, it’s Turkey, it’s Israel, it’s everyone on this island to work even harder to make the political agreements necessary so that everyone can benefit from the energy”.

He described natural gas finds as “a huge opportunity”.

He said that “there are still some questions about what would be found and how long it will take to rip the benefits but there is in a sense a certain deadline to that process and I would just urge everyone to really think about that and see this as an opportunity for everyone to benefit from”.

He also stressed that the best way of jointly exploit gas reserves is to find a comprehensive solution.

In conclusion, he congratulated the Republic of Cyprus for assuming the EU Presidency.

During his visit to the island, Gordon was received by President Christofias, and met with the Turkish Cypriot leader, and held meetings with Foreign Minister Erato Kozakou Marcoullis and the leader of the main opposition party DISY Nicos Anastasiades with whom he exchanged, as he said, views not only on Cyprus but also for regional and global issues.

On December 2011, President of the Republic of Cyprus Demetris Christofias announced that the results of the exploratory drilling in Cyprus` block 12 were positive, describing the discovery of hydrocarbons as historic for the island.

US company Noble Energy, which carried out the drilling, discovered 310 feet of net natural gas pay. The drilling reached a depth of 19,225 feet in water depth of about 5,540 feet.

The initial data that emerged from the exploratory drilling and the evaluation checks carried out indicate the existence of a natural gas reservoir ranging from 5 to 8 trillion cubic feet (tcf) with a gross mean of 7 tcf.

Five companies and ten joint ventures have submitted applications for the second licensing round for hydrocarbon exploration, in Cyprus’ EEZ.

Cyprus has been divided since 1974 when Turkish military forces invaded the northern part of the island and occupied 38% of its territory