Eastern Mediterranean Basin As A Source of Regional Cooperation

Natural Gas Europe was pleased to have an opportunity to interview Michael J.Economides, Professor of Chemical and Biomolecular Engineering at the University of Houston and Energy Tribune Editor-In-chief, at the Lebanon Oil & Gas 2013 Summit organized by IRN in Beirut, LB.

Do you see natural gas in the Eastern Mediterranean basin as a source of conflict or regional cooperation? 

I believe that the gas in the Eastern Mediterranean basin is and should be a source of regional cooperation. While conflict makes no sense whatsoever, cooperation benefits all the parties involved from both a geological and economic point of view. There is enough gas to make everybody rich. The Eastern Mediterranean countries should work together to develop an LNG plant. They will need at least three trains (about 20 MTPA) and two 36 in. pipelines. The LNG plant will cost between USD 15 and 20 billion.

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