Major Gas Finds in Eastern Mediterranean – a source of new supply and conflicts in South East Europe
Ambassador Mikael Eriksson, Ambassador for International Energy Affairs.
- Marie Jacobsson, Chief Adviser on International Law
- Director George Christian Pelaghias, Executive Director and Program Coordinator at the European Rim Policy and Investment Council (ERPIC)
- Professor Bassam Fattouh, Director of the Oil and the Middle East Institute for Energy Studies
A new, world class, gas "province" has been discovered over the past years in the Eastern Mediterranean. There could also be significant resources of oil in the area. The countries involved are primarily Israel, Cyprus and Turkey, but Lebanon, Syria and Greece are also affected. The new discoveries may turn the region into an important energy supplier with far reaching economic and political consequences.
These energy resources add important economic development prospects, particularly for Israel and Cyprus, and also offer Europe a potential new source of gas supply. At the same time, they increase the political tension over territorial rights to the resources in the Eastern Mediterranean between these states and Turkey, and also in relation to Lebanon and Syria. And, this occurs in a region already beset by several complicated political conflicts.
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