The Eastern Mediterranean in a decade went from an ’empty sea’ towards one of the most promising new frontiers of the global oil and gas industry. The Levant basin contains several impressive hydrocarbon reserves that have brought economic cooperation and peace between political rivals in an unstable region. Chevron in cooperation with Israeli partners is about to invest another $235 million in pipelines to increase production and export to Egypt that will cement ties even further. The ‘rise’ of the Eastern Mediterranean is not only determined by the size of the hydrocarbon resources but also due to partly existing infrastructure and vicinity to consumers including export markets. Israel was a resource-poor country that didn’t have access to the oil and gas of its Arab neighbors. Therefore, hydrocarbons needed to be imported from afar. The discovery of Tamar and Leviathan has changed that. Not only has Israel’s energy security position […]