The question of European energy security has brought attention to the strategic significance of South Eastern Europe and Mediterranean regions as sources, as well as transport hub, of natural gas and other forms of energy. The Eastern Mediterranean Basin and the Balkans will be key regions of Europe’s energy security, with USGS and IEA estimations showing confirmed and potential O&G reserves able to satisfy growing EU energy demand over the next 35 years at least.
The estimated reserves in the Eastern Mediterranean are located in four main areas: the Levantine Basin, the Nile Delta Basin, the Nile Cone and Greece (Crete, Herodotus, Corinth and Ionian). These areas include a number of Countries: Egypt, Greece, Cyprus, Israel, Lebanon and Syria. Turkey doesn’t look like playing a relevant role in the reserves distribution, due to its limited EEZ, however it seems that has not accepted this fact and tries to enforce its revisionist view.
The area is subject to threats that could create further instability and risk for the security of infrastructures and further investments. Several ongoing issues threaten the exploration, production, and transit of energy resources to Europe, especially the security environment, territorial disputes, and the macroeconomic climate. Recent developments, together with the uncertain future of the wider area (Balkans, Middle East, North Africa), suggest the need for enhanced security. Ongoing territorial disputes between several eastern Mediterranean countries, especially the Turkey-Greece-Cyprus disputes over their respective EEZs, could hinder exploration and development in the region, particularly in the offshore Levant Basin.
These disputes over maritime boundaries, jeopardize joint development of potential resources in the area and could limit cooperation over potential export options.
South Eastern Mediterranean Energy & Defense (semedenergydefense.com) is a unique Newsletter dedicated to Energy and Defense developments in the region which aims to:
1. Publish news, analyses and reports, as well as the o;cial views of major stakeholders and key opinion leaders, in order to illustrate the geopolitical parameters that a7ect the European Union’s Southern Gas Corridor strategy, which aspires to diversify the Union’s natural gas import sources.
2. To evaluate and present various options, strategies and measures from the European Union and/or its member-states, who are a7ected primarily, as well as the major stakeholders in the region, and their investments, stability and security cannot do but a serious energy security and defense policy. We are a team of experts in the energy and defense industries who, together with the team of “Flight & Space” (ΠΤΗΣΗ & ΔΙΑΣΤΗΜΑ) magazine*, shall present you in-depth reports and analyses, focusing on the “who is who” and “whys” behind the major events.
South Eastern Mediterranean Energy & Defense