L’Égypte, nouvelle plateforme gazière en Méditerranée orientale Notes de l'Ifri, September 2018
Recent offshore gas discoveries in the Eastern Mediterranean, primarily in Egypt as well as in Israel, but also around Cyprus, are dramatically changing these countries' energy perspectives and economies, and also influence geopolitical balances in the region.
As these resources are now starting to be developed, gas is set to play a growing role in these countries’ electricity systems. Significant volumes will be commercialized domestically and help meet a rapidly growing energy demand, while surpluses could be exported, possibly to the South of Europe. Egypt is expected to become a new gas hub in the region, thanks to its super large discoveries and rapid gas project developments, and also to its existing pipeline and LNG export infrastructures. The fate of Cyprus’ resources remains uncertain and tied to further exploration efforts being successful and to tensions with Turkey being eased. The region’s resources have attracted many majors such as ENI, Total, BP and Exxon and Russia, Italy, France, Turkey, the USA and Qatar have all developed specific interests. These gas resources are a game changer for these countries, and it remains to be seen whether they can be a game changer for the European Union as well.
This study is available in French only: "L’Égypte, nouvelle plateforme gazière en Méditerranée orientale"