Egypt, Saudi Arabia coordinate on regional crises ahead of first Supreme Council meeting    FRA launches first register for tech-based risk assessment firms in non-banking finance    Egypt's Health Ministry, Philips to study local manufacturing of CT scan machines    African World Heritage Fund registers four new sites as Egypt hosts board meetings    Maduro faces New York court as world leaders demand explanation and Trump threatens strikes    Egypt identifies 80 measures to overhaul startup environment and boost investment    Turkish firm Eroglu Moda Tekstil to invest $5.6m in Egypt garment factory    EGX closes in red area on 5 Jan    Gold rises on Monday    Oil falls on Monday    Al-Sisi pledges full support for UN desertification chief in Cairo meeting    Al-Sisi highlights Egypt's sporting readiness during 2026 World Cup trophy tour    Egypt opens Braille-accessible library in Cairo under presidential directive    Abdelatty urges calm in Yemen in high-level calls with Turkey, Pakistan, Gulf states    Madbouly highlights "love and closeness" between Egyptians during Christmas visit    Egypt confirms safety of citizens in Venezuela after US strikes, capture of Maduro    From Niche to National Asset: Inside the Egyptian Golf Federation's Institutional Rebirth    5th-century BC industrial hub, Roman burials discovered in Egypt's West Delta    Egyptian-Italian team uncovers ancient workshops, Roman cemetery in Western Nile Delta    Egypt, Viatris sign MoU to expand presidential mental health initiative    Egypt's PM reviews rollout of second phase of universal health insurance scheme    Egypt sends medical convoy, supplies to Sudan to support healthcare sector    Egypt sends 15th urgent aid convoy to Gaza in cooperation with Catholic Relief Services    Al-Sisi: Egypt seeks binding Nile agreement with Ethiopia    Egyptian-built dam in Tanzania is model for Nile cooperation, says Foreign Minister    Al-Sisi affirms support for Sudan's sovereignty and calls for accountability over conflict crimes    Egypt flags red lines, urges Sudan unity, civilian protection    Egyptian Golf Federation appoints Stuart Clayton as technical director    4th Egyptian Women Summit kicks off with focus on STEM, AI    UNESCO adds Egyptian Koshari to intangible cultural heritage list    Egypt recovers two ancient artefacts from Belgium    Egypt warns of erratic Ethiopian dam operations after sharp swings in Blue Nile flows    Sisi expands national support fund to include diplomats who died on duty    Egypt's PM reviews efforts to remove Nile River encroachments    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Germany among EU's priciest labour markets – official data    Russia says it's in sync with US, China, Pakistan on Taliban    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Biggest hurdles remain before East Med gas bonanza
Published in Daily News Egypt on 20 - 04 - 2012

LONDON: The eastern Mediterranean's promise of energy riches has spurred some encouraging deals between governments, but deeper regional conflicts stand in the way of unlocking one of the world's largest gas reserves, experts said on Thursday.
There is enough gas to power the region for generations, with exploration results showing over 100 trillion cubic feet (tcf) of reserves could lay untapped under the seabed.
But the findings, so far largely in waters off Israel and Cyprus, have also spotlighted land and maritime border disputes in the region involving Lebanon, Turkey and Egypt.
Some encouraging progress has been made.
Egypt and Cyprus defined their Exclusive Economic Zones (EEZ) in the Mediterranean in 2003, Lebanon and Cyprus theirs in 2007, and Israel and Cyprus agreed on their EEZs in 2010.
But experts say land border disputes will overshadow any wider negotiations over gas exploration for years to come.
"The land rules the seas. If you don't have an agreed land boundary ...you cannot state with any certainty where adjacent maritime boundaries begin," Richard Schofield, senior adviser at Menas Borders, a territorial and boundary dispute consultancy, told a briefing in London.
"We have problems with almost every boundary in this region," Schofield said. "None of this maritime stuff is worth a squat without a land border agreement."
Lebanon has no diplomatic relations with Israel, Turkey does not recognize the Republic of Cyprus, which, along with the European Union, does not recognize Turkish-speaking northern Cyprus.
The longstanding border dispute between governments in Tel Aviv and Beirut stands in the way as maritime zones are usually based on extensions of land borders, Schofield said.
Difficulties with Israel's claims could grow deeper still should a potential Palestinian state come into being.
"By any definition, the Mari-B gas field should in part go to Gaza and a potential Palestinian state," Schofield said.
It has an estimated reserve of 1.3 tcf, enough to supply Israel's gas demand for more than a decade.
The UN's Convention on the Law of the Sea (UNCLOS), an international agreement from 1982, helps define national rights and responsibilities in maritime issues.
But Turkey and Israel have not officially endorsed it.
And in Egypt, which also hopes to find gas in its waters, there is uncertainty too, following the collapse of its government during last year's Arab Spring uprisings.
Large gas fields
In Israel, the Tamar and Leviathan gas fields are amongst the biggest offshore findings in decades, with reserve estimates 8.5 and 16 tcf respectively.
Lebanon has said that small parts of the Leviathan field could be in its own waters, a claim Tel Aviv rejects.
Beirut is expected to start its own round of exploration licensing this summer.
The recently discovered Aphrodite gas field, which is estimated at 7 tcf, is largely in Cypriot waters, although some part of it could be in Israel's EEZ.
But cooperation between Israel and Cyprus works well, with the two governments having a defined EEZ and joint exploration agreements in place.
Cyprus' problem lies with Turkey.
Ankara has warned against unilateral exploration by the Republic of Cyprus, arguing that any mineral resource revenues would have to be shared with the Turkish claimed North of the island.
Egypt and Turkey have both said they would announce exploration license tenders soon.
"Egypt and Turkey have been very encouraged by recent findings and they may announce licensing rounds very soon," said Charles Gurdong, also a managing director at Menas Borders.
Finally, there is Syria which also has potential claims to gas in the region.
"Syria has been incredibly silent in this matter, and I doubt that this will change until the country settles down domestically," Schofield said.
Thousands of people have been killed in Syria during a year-long popular revolt against President Bashar Al-Assad's rule, internationally isolating the country.


Clic here to read the story from its source.