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Published in:
2017 | OriginalPaper | Chapter
13. Toward A New Mediterranean Gas Hub?
Authors : Dario Speranza, Daniela De Lorenzo
Published in: The European Gas Markets
Publisher: Springer International Publishing
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Abstract
The recent discoveries of huge gas reserves in the Eastern Mediterranean are redefining the geostrategic meaning of the “Southern Mediterranean category,” even heralding scenarios of regional cooperation in relation to the concept of creating a Mediterranean gas hub, with potential benefits in terms of stability, economic gains, energy security, and diversification. The challenges for the energy sector in the region will be to satisfy increasing internal demand with affordable and reliable supplies, to create conditions to efficiently export excess resources, and to craft a sustainable energy mix (i.e., more gas and renewables). Europe indeed needs to diversify energy supplies in order to increase its internal gas-market resilience and create a more competitive regional market. In this context, strengthening the south–north corridor could contribute to the relaunch of the Mediterranean and boost the security and the development of the whole region.