The wave of deep offshore and unconventional gas and oil exploration projects, rendered economically feasible by relatively high prices and new technologies, has reached the shores of the Mediterranean. Levantine countries, including Cyprus, Israel, Palestinian Territories, Lebanon, Syria, have new offshore gas potentials…
The Eastern Mediterranean region is rapidly changing. The turbolent political transition in Egypt after the Arab Spring, the civil war in Syria, the emergence of Turkey as leading regional power, the tensions between Israel and Gaza and the never-ending dispute between Turkey and the Republic of Cyprus are -all together- reshuffling the regional geopolitical equilibrium. At the same time natural gas findings are flourishing in the offshore of Egypt, Israel, and Cyprus, reshaping the regional energy map and rapidly making the Eastern Mediterranean a world-class natural gas province…
This paper examines the challenges and opportunities that have been given rise to by the discoveries of sizable gas resources in the Levant Basin, arguing that to 2020 East Mediterranean gas is more likely to be a game-changer for local energy systems than for regional and international gas markets…
New Economics Papers Energy Economics (REPEC)
