Zohr gas field in Egypt
Outlook 2024: Uncertain outlook for East Med
The geopolitical risks of the East Med could affect regional energy integration and global markets
The ongoing conflict in Gaza had an immediate impact on East Mediterranean gas supply and, if prolonged, could lead to a future of uncertainty around gas development plans and energy integration among regional players. Over the past few years, East Med gas has gained increasing momentum from the international community, following the discovery of the giant Zohr gas field offshore Egypt in 2015 and its fast-track development in less than 30 months. Zohr was a game-changer for Egypt as it helped the North African nation to stop importing LNG and turned it into a net gas exporter. Zohr was not the first gas discovery in this region, with the Tamar and Leviathan fields offshore Israel discovered
Also in this section
6 December 2024
A trade war may damage US economic growth, with commodity producers the ultimate losers if history is a guide
6 December 2024
The NOCs are both looking to take advantage of the petrochemicals boom, with the Saudi firm snapping up stakes in Asian JVs tied to offtake agreements and its Emirati counterpart striking big M&A deals
5 December 2024
While Donald Trump’s future sanctions policy is anything but certain, he may use a ‘carrot and stick’ approach to pursue an end to the war in Ukraine, although any changes will not happen overnight
5 December 2024
The latest sanctions on Gazprombank and other Russian banks may cause disruption, but willing buyers of Russian energy will find ways to continue payments
