Oil and gas in the Eastern Mediterranean

This year saw the translation of international oil companies’ interest in the Eastern Mediterranean—following the discovery of Zohr, in Egypt, in 2015—into concrete projects, and the confirmation of the region’s potential, with a new and promising discovery in Cyprus. Egypt received its final liquified natural gas (LNG) shipment in September and is aspiring to become a regional gas export hub, following an impressive increase in production and the signing of agreements that could see the transport of gas from neighboring countries to feed its LNG plants for re-export. At the start of the year, Lebanon signed its first offshore exploration and production agreements and is preparing to invite companies for a second bidding round in 2019. Meanwhile, in Israel, the development of the Leviathan and Karish gas fields are on track. The country also launched its second offshore licensing round, counting on improved conditions this time around. This year also