Geostrategic importance of east mediterranean gas resources

Abstract

A series of major natural gas discoveries and the prospect of substantial hydrocarbon resources waiting to be tapped beneath the Eastern Mediterranean waters have sparked major international interest. If developed in a timely and successful way, current and future discoveries may significantly change the energy picture of the region. Exploitation and export of these resources will require overcoming numerous challenges with geopolitical implications. As a matter of fact, being perhaps the only common denominator, energy will increasingly become a main component of the geostrategic struggle in the East Mediterranean and its surroundings. The article discusses the exploration, ongoing and planned field development and production activities, the possibilities of gas exports and trade destinations, the options for export infrastructures, and the effect of recent discoveries in Egypt in the Levant region. It will also give an overview of the potential impact of all these issues on the conflict-laden geopolitical landscape of the region in terms of adding a new dimension to establish the power balance. Whether hydrocarbon resources will be a force that unites or one that fuels conflict is hard to anticipate. The article will argue that if not managed carefully, and unless developed for the benefit of all, those resources may fuel confrontations, add frictions and anxieties to an already volatile region, and will shrink the room of optimism for finding a common ground.