East Mediterranean Gas: what kind of a game-changer? * Hakim Darbouche, Laura El-Katiri** and Bassam Fattouh*** NG 71 December 2012 * Research Fellow, Oxford Institute for Energy Studies (OIES). Email:
[email protected]. ** Research Fellow, OIES. Email:
[email protected]. *** Deputy Director, and Director of the Oil and the Middle East Programme, OIES. Email:
[email protected]. The authors are grateful to Bill Farren-Price for the feedback he provided on the monetization section. The comments of Howard Rogers and John Elkins helped refine the final version of the text. Any mistakes, in fact or interpretation, remain our own. The contents of this paper are the author’s sole responsibility. They do not necessarily represent the views of the Oxford Institute for Energy Studies, of any of the Institute’s members, and/or of the author’s other affiliations. Copyright © 2012 Oxford Institute for Energy Studies (Registered Charity, No. 286084) This publication may be reproduced in part for educational or non-profit purposes without special permission from the copyright holder, provided acknowledgment of the source is made. No use of this publication may be made for resale or for any other commercial purpose whatsoever without prior permission in writing from the Oxford Institute for Energy Studies. ISBN 978-1-907555-64-0 ii Preface The discovery of large gas fields offshore Cyprus and Israel has dramatically changed the stature of the region from one which was struggling in aggregate to obtain sufficient supplies to meet growing demand to one which has the potential to become a new exporter.