- The war in Gaza does not seem to have affected the energy development programs in Israel and Cyprus, given that the work programs of the foreign companies investing in the upstream sector in Israel and the EEZ of Cyprus are proceeding as usual.
- The maritime delimitation agreement which Israel and Lebanon signed in October 2022 seems to have played a decisive role in the non-expansion of the war.
- The development of the large offshore Gaza Marine natural gas field off the Gaza Strip will impact critically on Israel’s role in post-war Gaza.
- Continued instability in the Red Sea has led the largest international maritime and energy companies to bypass the Suez Canal and use the route around Africa and the Cape of Good Hope to transport goods to Europe and America.
- The price of oil globally may increase if the expected surge in the war in Ukraine takes place this summer and the need to bypass the Red Sea is prolonged, with global trade having to be rerouted in its entirety around Africa.
Read here (in Greek) the Policy paper by Marika Karagianni, ELIAMEP Research Associate; Energy expert, I.H.U., Petroleum Institute.