Egypt, Cyprus focus on natural gas pipeline amid tensions in eastern Mediterranean

At a time when the oil and gas industry is facing economic uncertainty as part of the consequences of the coronavirus pandemic and the decline in global prices as a result of an oversupply, the eastern Mediterranean region is marred by a frantic struggle over natural gas resources.

Eastern Mediterranean countries have rushed to demarcate their maritime borders and exclusive economic zones in a bid to facilitate the gas exploration process.

The United States Geological Survey estimated the natural gas reserve in the Mediterranean in 2017 at 340-360 trillion cubic feet with a financial value ranging between $700 billion and $3 trillion.

Read more: https://www.al-monitor.com/pulse/originals/2020/09/egypt-cyprus-natural-gas-pipeline-east-mediteranean-turkey.html#ixzz6Y0cumlBC