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#78513
michael norton

“Since 2006, Europe has increasingly viewed the Eastern Mediterranean Natural Gas as a resource with huge potential to provide economic growth, mitigate climate change, and reduce dependence on Russian gas supplies. European companies have been involved in gas exploration, while the European Union has largely supported the idea of a new pipeline that connects Israeli and Egyptian fields with Cyprus and mainland Europe.

https://ecfr.eu/special/eastern_med/gas_fields

Now Turkey wants to rival Greece and Cyprus and Israel.

“The United States Geological Survey estimates that the Levant Basin – the waters of Cyprus, Egypt, Israel, Lebanon, and Palestine – contains 122.4 trillion cubic feet of technically recoverable gas. To date, Cyprus, Egypt, Israel, and Palestine have discovered gas – which has stimulated cooperation between Egypt, Israel, and Cyprus.”

This Natural Gas is now rather important, as Natural Gas Futures has multiplied twenty five times in eighteen months