There is approximately 60 billion barrels of offshore hydrocarbons, most of which remain unexplored or under-explored in the East Mediterranean region. This is equivalent to Europe’s energy needs for the next 30 years, making the region a highly important crossroad for the global energy markets.
With the emergence of the Levantine Basin as a major hydrocarbon province, the East Mediterranean has also become a major focus area for companies seeking new business opportunities.
Oil and gas experts from all over the world met at the 2nd East Mediterranean Gas Conference, that was held on 9-10 September 2014 in Cyprus, sharing their insights on monetising natural gas in the region.
Among the key themes: East Mediterranean gas as a new supply source for Turkey and the European Union; future domestic gas and LNG demand; changes in the energy landscape; role of Lebanon and Israel; floating LNG, small-scale and LNG and CNG as options for gas export; pipelines as an export option.