The world is trying to build a whole new energy equation. The oil and natural gas reserves in the East Med, and especially potential gas resources will bring about a whole new order and equation in the upcoming period.
Today, move upon move is being made by various countries to establish this new energy equation and have a say in it.
New developments in the East Med
The Mediterranean is currently playing host to an interesting turn of events.
On the one hand, Israel is striving to insert itself as a major player in the region with its unilateral peace plan it concocted with the U.S., and on the other it’s hindering Palestine from operating its very own the natural gas reserves as well as preventing the people from utilizing the resources found at the Gaza Marine gas field.
Resources belonging to Palestine passing to Israel within the context of the so-called peace plan will lead to a heightened atmosphere of chaos in the region and Israel’s demonstration of a harsher approach against the Palestinians.
Most important of all, who can stand against this so-called peace plan? Libya and Syria have their own mess to deal with; they’re are currently battling civil wars. Who else? Lebanon or Egypt? Today Egypt is playing the role of advocating for the U.S.’s ideas and policies. Saudi Arabia, Qatar and the United Arab Emirates (UAE), which already reign over he region’s resources, are openly supporting Trump’s Middle East plan.
What does the US plan to gain in the East Mediterranean?
On the one hand, we have Israel’s East Med policy, which it has been working on for years with U.S. backing because it wants to have a say in the new energy equation that will soon be formed. On the other hand, when the U.S. designed an East Mediterranean project and energy equation with Israel, it designed it in such a way that other regional countries would be ostracized from the formula.
It should also not be forgotten that even though the U.S. is in the world’s top four countries in terms of natural gas reserves and even though it has less than Russia, Qatar and Iran which possess the most gas, it is the country that produces the most natural gas in the world.
Would a country in this position leave this market to someone else's control? Will the U.S. allow this equation to be established by someone else?
The future of the East Med
When we take a look back at the winter that frosted over after the Arab Spring, we see that many of the possible developments in the East Med are evolving to the detriment of regional countries.
However, the fact that countries will meet their energy supply security with the resources in the East Med and will use these for unimaginable moves to reach their own political gains does not bode well-- at all.
Because, if the Eastern Mediterranean is to become a source of wealth for regional countries and a hub in terms of energy supply security, all stakeholders should benefit from its riches.
Otherwise, the it poses a serious threat in terms of energy supply security and economic security, and is likely to create chaos for regional countries.