Treasures of the Eastern Med

There is a huge potential for hydrocarbons in the Eastern Mediterranean region, both in terms of supply and of transport of gas. The US Geological Survey estimated back in 2010 that 122 trillion cubic feet (tcf) of Natural Gas and 1.68 bbl of oil are located in the Levant Basin Province and 223 tcf and 1.76 bbl, in the Nile Delta Basin Province.

The recent “super giant” discovery of Natural Gas in the Zohr field of the Egyptian Exclusive Economic Zone (EEZ), estimated at 30 tcf, coupled with the Leviathan and Tamar earlier major discoveries in the Israeli EEZ, have confirmed the US Survey’s estimations and have demonstrated the profound impact that these discoveries could have on the region’s economic future.

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