International Energy Relations: Impact of Newly-Discovered Energy Sources in the Eastern Mediterranean
London, 20 September 2024
In recent years, the discovery of vast energy reserves in the Eastern Mediterranean has shifted the dynamics of international energy relations. Countries in the region, as well as global players like the USA, Russia, and the EU, are vying for control over these valuable resources. Energy diplomacy has become a key tool in balancing the competing interests of these nations. But will it be successful in preventing conflict and fostering cooperation in this strategic region?
The Eastern Mediterranean as a Energy Hotspot
The Eastern Mediterranean has emerged as a hotspot for energy exploration, with significant reserves of natural gas being discovered off the coasts of countries like Greece, Israel, Cyprus, and Egypt. These discoveries have the potential to transform the energy landscape of the region and beyond. However, the presence of these resources has also raised tensions among neighbouring countries over territorial rights and exploration rights. Countries in the region are now seeking to leverage their energy reserves to enhance their geopolitical influence and strengthen their economies. For example, Israel has signed deals with neighbouring countries to export natural gas, while Greece and Cyprus are exploring options for developing their own gas fields, despite the illegal Turkish threats of war.
Impact on International Relations
The newfound energy wealth in the Eastern Mediterranean has the potential to reshape international relations in the region. Countries like Turkey, which is not part of the EU and has strained relations with its neighbours, are seeking to assert their influence in the region by challenging the energy agreements of other countries. This has led to increased militarization in the Eastern Mediterranean, raising concerns about the potential for conflict. At the same time, major global players like the USA, Russia, and the EU are closely monitoring developments in the region. These countries have their own strategic interests in the Eastern Mediterranean, and are keen to ensure that their energy security is not compromised. Energy diplomacy has thus become a key tool for these nations to negotiate agreements and resolve disputes in a peaceful manner.
Balancing Interests through Energy Diplomacy
Energy diplomacy plays a crucial role in balancing the interests of different parties in the Eastern Mediterranean. By engaging in dialogue and negotiation, countries can work towards mutually beneficial agreements that promote stability and cooperation in the region. For example, the EastMed Gas Forum, which was established in 2019, aims to create a platform for dialogue on energy issues among countries in the Eastern Mediterranean. However, the success of energy diplomacy in the region will depend on the willingness of all parties to engage in constructive dialogue and compromise. This will require a shift away from zero-sum thinking towards a more inclusive and cooperative approach to energy cooperation.
The Future of International Energy Relations
As Francis Fukuyama famously argued, The Future Belongs to The Most Effective Nations - those that are able to adapt to changing circumstances and navigate the complexities of the modern world. In the case of the Eastern Mediterranean, the countries that are able to effectively manage their energy resources and engage in productive energy diplomacy are likely to emerge as key players in the region. Ultimately, the successful management of energy resources in the Eastern Mediterranean will require a delicate balance of power, cooperation, and diplomacy. By working together towards common goals, countries in the region can unlock the full potential of their energy wealth and pave the way for a more stable and prosperous future. (Written and edited by Angelos Tsigkopoulos, based on his older article on LinkedIn, following his participation at the Energy for Security Forum in May 2019 in Monaco)
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