Regionalizing East Mediterranean Gas

Download or read book Regionalizing East Mediterranean Gas written by Strategic Studies Strategic Studies Institute and published by CreateSpace. This book was released on 2015-01-03 with total page 68 pages. Available in PDF, EPUB and Kindle. Book excerpt: The East Mediterranean has been witnessing an unparalleled natural resource boom since the late-2000s, when Israel, followed by Cyprus, made its first significant offshore hydrocarbon discoveries in many years. These discoveries have since proven to be substantially larger than any other resources previously explored in the East Mediterranean Sea. A 2010 U.S. Geological Survey suggests the Levant basin-the area including Cyprus and Israel's offshore zones, and the offshore and some onshore territories of Syria, Lebanon, and the Palestinian Territories-could hold as many as 1.7 billion barrels of oil and up to 122 trillion cubic feet (tcf) of natural gas, leaving as much as two thirds of the region's potential resource base still undiscovered. This book provides an overview of recent hydrocarbon discoveries and their significance for the region's resource holders; it also explores the possible implications of these resources for the region's security landscape, their potential to fuel conflict, and options to foster closer regional cooperation and trade integration. It discusses the role U.S. diplomacy and military support could play to ensure continued stability, security, and regional support within the East Mediterranean's shifting geoeconomic framework.