Race to Develop Eastern Mediterranean Gas August 2017
By Ahnie Litecky, Noah Finley
Recent major gas discoveries in the eastern Mediterranean are set to significantly influence the region’s political and energy future in the near and long term. Many countries in the eastern Mediterranean are growing quickly and grappling with rising energy demand. Europe is also looking east for new gas sources. Exploiting the area’s vast gas resources, however, this will require cooperation between countries that have complicated political relationships and construction of major infrastructure. Luckily huge profits and the promise of national and regional energy security are powerful motivators. Some progress has already been made in negotiating gas-exploration and -exportation deals that could shape the longterm energy landscape of the eastern Mediterranean.
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