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The Importance Of Southeast Mediterranean Natural Gas Reserves To Eu’S Energy Security; A Geopolitical And Economic Approach

Author

Listed:
  • Antonios STRATAKIS

    (PhD Candidate, University of Piraeus - Department of Maritime Studies,)

  • Theodore PELAGIDIS

    (Professor of Economics, University of Piraeus – Department of Maritime Studies, Deputy Governor – Bank of Greece, pelagidi@unipi.gr)

Abstract

It has been more than a decade since the Southeast Mediterranean region came to the forefront after the discovery of significant gas reserves in offshore fields located within the maritime territories of Egypt, Cyprus and Israel (Levantine Basin). Gradually, the region drew the attention of major oil companies (Total, Statoil, ENI, Exxon Mobil, BP, Rosneft Qatargas) which intensified their drilling operation activities; aiming to share the exploitation of the potential regional gas deposits with the involved countries in the future. Τhe aim of this paper is to investigate (a) the economic impact of these discoveries on the countries concerned, (b) what role can these discoveries play in EU’s energy plans, given the stated policy to reduce dependence on Russian supplies and (c) the implementation of a forthcoming energy hub in Southeast Mediterranean region, its viability and competitiveness towards other well-established or emerging gas producing areas. Finally, the paper examines the conflicted interests of European Union, Russia and USA in the energy equation of the region.

Suggested Citation

  • Antonios STRATAKIS & Theodore PELAGIDIS, 2020. "The Importance Of Southeast Mediterranean Natural Gas Reserves To Eu’S Energy Security; A Geopolitical And Economic Approach," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(2), pages 11-29, June.
    • Handle: RePEc:hrs:journl:v:xii:y:2020:i:2:p:11-29
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    Citations

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    Cited by:

    1. Aliya AKHMET & Zhanar MEDEUBAYEVA & Raikhan TASHTEMKHANOVA & Maira IYEMBEKOVA, 2021. "Central Asia: Drivers, Dynamics And Prospects Of Trade And Economic Cooperation," Regional Science Inquiry, Hellenic Association of Regional Scientists, vol. 0(1), pages 183-200, June.
    2. Badarin Emile & Schumacher Tobias, 2022. "The Eastern Mediterranean Energy Bonanza: A Piece in the Regional and Global Geopolitical Puzzle, and the Role of the European Union," Comparative Southeast European Studies, De Gruyter, vol. 70(3), pages 414-438, September.

    More about this item

    Keywords

    Energy Corridors; Pipeline Networks; EastMed Project; LNG Terminals; Southeast Mediterranean;
    All these keywords.

    JEL classification:

    • F10 - International Economics - - Trade - - - General
    • F51 - International Economics - - International Relations, National Security, and International Political Economy - - - International Conflicts; Negotiations; Sanctions
    • R41 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Transportation: Demand, Supply, and Congestion; Travel Time; Safety and Accidents; Transportation Noise
    • R42 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government and Private Investment Analysis; Road Maintenance; Transportation Planning
    • R48 - Urban, Rural, Regional, Real Estate, and Transportation Economics - - Transportation Economics - - - Government Pricing and Policy

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