Eastern Mediterranean Energy Supply – Part One – Natural Gas – Trade Insights Today

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Eastern Mediterranean, Energy Supply – Part One – Natural Gas

The Eastern Mediterranean region has experienced a significant rise in gas production in recent years, signaling a major shift in the global energy landscape. The region has been known to have significant hydrocarbon reserves for decades, but only in the past decade have these reserves successfully been exploited. One of the key milestones in the development of the region’s gas industry was the discovery of the Tamar field off the coast of Israel in 2009 with projected reserves of 307 billion cubic meters (BCM), followed in 2010 finding the Leviathan gas field with projected reserves of 620 bcm. These discoveries kickstarted a wave of exploration and production activities in the region.

The Eastern Mediterranean is now recognized as a major natural gas player, with several significant gas fields being developed or already in production. In addition to the reserves in the Leviathan and Tamar fields in Israel, other fields are being developed including the Zohr field in Egypt with estimated reserves of