Offshore Gas in East Mediterranean: From Myth to Reality Note de l'Ifri, May 2013
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 road leading to a change of energy paradigm in the East Mediterranean is however long and bumpy. Before these countries will be able to tap benefits from these deep water gas (and oil) resources, these countries will actually have to overcome significant geopolitical, regulatory and commercial hurdles.
These resources will also impact significantly the geopolitics of the Middle East. The emergence of cooperation potential is however counterbalanced by revived tensions over border issues. New east Mediterranean gas discoveries also interplays with Turkey's past years foreign energy policy.