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Project Insights

East Med seeks to revive gas export ambitions

The highly ambitious EastMed project faces sizeable commercial and political risks but reinforces the burgeoning relationship between East Mediterranean allies Greece, Israel and Cyprus The highly ambitious EastMed project faces sizeable commercial and political risks but reinforces the burgeoning relationship between East Mediterranean allies Greece, Israel and Cyprus.
By James Gavin 9 January 2020 Middle East & Africa / Supply & Demand 0 34914
Artist's impression of the FPSO in the Karish and Tanin fields, offshore Israel. (Energean)

The key issue: Israel, Greece and Cyprus signed a preliminary agreement on 2 January to move forward with a 10 billion cubic metre per year pipeline to bring gas from offshore reserves in the East Mediterranean to Europe.

Interfax analysis: The East Mediterranean began 2020 as it left 2019, in a state of heightened tension as divergent energy strategies pitched Turkey against regional gas powers.

The trilateral deal struck between Israel, Greece and Cyprus in early January comes barely a month after