The Biggest Winners In The Mediterranean Energy War
By Vanand Meliksetian ,Oilprice- Oct 20, 2018, 12:00 PM CDT
Cairo has been able to act pragmatically concerning its relations with its neighbors such as Israel while taking advantage of the limited amount of options for exporting gas. The obvious winner in this context has been Egypt and its LNG industry. Its chances of becoming the regional energy hub instead of Turkey have significantly increased.
The Eastern Mediterranean Sea basin promises great rewards, but the risks are also high. With Turkey potentially being the only country that doesn’t profit from the gas bonanza, Ankara has acted aggressively to get what it regards as its fair share. However, it faces a united front from the other littoral states of the Eastern Mediterranean. Therefore, it is highly unlikely that Turkey will be able to profit in the same way as Cyprus, Egypt or Israel.