Oil Prices below Zero - Economic Implications on the Eastern Mediterranean Gas Resources

With the establishment of the Eastern Mediterranean Gas Forum (EMGF), Cyprus, Egypt, Greece and Jordan, along with representatives of Italy and the Palestinian Authority, have created a platform to foster cooperation exploiting the gas resources in the Eastern Mediterranean. The discovery of the gas fields off the coast of Cyprus and Israel have created high expectations.

The Friedrich-Ebert-Stiftung has convened an experts’ group as part of its project on climate and energy in this region. The group assesses the complexities of gas developments in the Eastern Mediterranean looking at economic, political, and environmental consequences.

FES Brussels is organising an online workshop to discuss their findings particularly against the background of current developments in the energy markets. What economic implication has the low oil price for future projects in the Eastern Mediterranean? What effect will the European Green Deal have on the EU as a potential market for the exports?

Contact: Sidonie.Wetzig@fes-europe.eu