East Med Gas: Immediate and Distance Solutions

The Eastern Mediterranean became central in natural gas dialogues since the discovery of substantial amounts of natural gas under its seabed. The increased attention it received could be explained by the simple fact that the Eastern Mediterranean was considered energy poor until Israel’s discovery of fertile fields. Israel’s Leviathan and Tamar hold respectively 21 and 10 Tcf of natural gas, enough to secure the country’s natural gas independence for decades and even its entry to export markets. Cyprus was the second Eastern Mediterranean country to encounter some of the same hydrocarbon in Block 12 of its EEZ.  Its Aphrodite field is estimated at 3.6 to 6 Tcf of natural gas. The island needs to make additional discoveries to get its gas to market, and is currently conducting further exploratory activities in its maritime zone. Neighbouring Lebanon is believed to be oil and gas rich, but domestic political obstacles have been delaying the launching of the first licensing round.

Lebanese officials have stated that Lebanon’s waters may contain up to 95 Tcf of natural gas.

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