Executive Summary

Last Updated: November 16, 2022   |  
Full report   |   Notes

Eastern Mediterranean in context

Exploration

Table 1. Ongoing or upcoming licensing rounds for exploration
Country Licensing round Status Number of
blocks offered
Location Notes
Israel Offshore bid round 3 Evaluating bids 1 Offshore Expected award date by end-2022
Offshore bid round 4 Planned 25 Offshore Bids accepted up until December 2022. expected award date in Q2 2023
Jordan 2021 licensing round Planned 9 Onshore Closing date May 2023, expected award date Q3 2023
Lebanon Second offshore licensing round Call for bids 8 Offshore Bids accepted up until December 2022. expected award date in Q2 2023
Data source: Rystad Energy, ministry websites, Oil & Gas Journal

Petroleum and other liquid fuels

Reserves

Table 2. Oil reserves in selected countries in the Eastern Mediterranean, 2022
Country Million barrels of oil reserves
Egypt 3,300
Greece 10
Israel 13
Jordan 1
Turkey 371
Data source: Oil & Gas Journal, “Worldwide Look at Reserves and Production”

Production

Figure 1. Annual liquid fuels production, selected countries in the Eastern Mediterranean, 2012-2021
figure data

Consumption

Figure 2. Annual liquid fuels consumption, selected countries in the Eastern Mediterranean, 2012-2021
figure data

Natural gas

Reserves

Table 3. Natural gas reserves in selected countries in the Eastern Mediterranean, 2022
Country Natural gas reserves in trillion cubic feet
Egypt 63.30
Greece 0.04
Israel 6.22
Jordan 0.21
Turkey 0.11
Data source: Oil & Gas Journal, “Worldwide Look at Reserves and Production”

Production

Figure 3. Annual dry natural gas production, selected countries in the Eastern Mediterranean, 2012-2019
figure data

Consumption

Figure 4. Annual dry natural gas consumption, selected countries in the Eastern Mediterranean, 2012-2021
figure data

Recent natural gas discoveries

Figure 5. Forecasted natural gas production from selected fields in the Eastern Mediterranean, 2021-2030
figure data
Table 4. Significant natural gas discoveries in the Eastern Mediterranean
Country name Discovery name Discovery date Location Operator Estimated startup date Estimated volume/peak prod'n level (billion cubic feet per year)
Cyprus Aphrodite 2011 Block 12, offshore deepwater Noble Energy 2029 202
Calypso 2018 Block 6, offshore deepwater Eni 2036 276
Glaucus 2019 Offshore deepwater, Block 10 ExxonMobil 2038 276
Cronos 2022 Block 6, offshore deepwater Eni Unknown Unknown
Egypt Zohr 2015 Offshore, Nile Delta basin Eni 2017 1144
Baltim Southwest 2016 Offshore shallow water, Baltim Block, Nile Delta Basin Eni, Egyptian General Petroleum Corporation 2019 0.16
Raven 2004 Offshore deepwater, North Alexandria Block BP 2021 0.23
Bashrush 2020 Offshore, shallow water Eni 2025 0.05
Israel
Leviathan Phase 1A, 1B, 2: 2010 Offshore deepwater, Blocks I/14 and I/15 Chevron Phase 1A: 2020, Phase 1B: 2026, Phase 2: 2030 779
Tamar Phase 1 and 2: 2009, Tamar SW: 2013 Offshore deepwater, Block I/12 Chevron Phase 1: 2013, Tamar SW: 2019, Phase 2: 2027 585
Karish 2013 Offshore deepwater, Block Alon C Energean 2022 0.22
Karish North 2019 Offshore deepwater, Block I/17 Energean 2023 104
Athena 2022 Offshore deepwater, Block 12 Energean 2027 0.05
Tanin 2012 Offshore deepwater, Block Alon A Energean 2028 0.11
Data source: Rystad Energy

Trade

Liquefied natural gas (LNG) infrastructure

Table 5. LNG infrastructure in the Eastern Mediterranean
Country Facility name Status Facility type Location Operator Start date Nameplate capacity (billion cubic feet per year)
Cyprus Vassiliko FSRU Under construction FSRU Vassiliko Port Unknown; owned by DEFA 2023 Import capacity: 29 Export capacity: 240
Egypt SEGAS LNG Operating LNG export terminal Damietta SEGAS Services 2005 266
Egyptian LNG Operating LNG export terminal Idku Egyptian LNG 2005 346
SUMED BW, BW Singapore Operating FSRU SUMED port (located at Ain Sukhna from 2015 to 2017) BW 2015 274
Greece Revithoussa FSRU Operating FRSU Revithoussa DESFA S.A. 2000 244
Dioriga FSRU Proposed FSRU Corinth Unknown; owned by Dioriga Gas 2023 92
Argo FSRU Proposed FSRU Argo (Volos port) Mediterranean Gas 2023 162
Thessaloniki FSRU Proposed FSRU Thessaloniki Unknown; owned by Elpedison 2025 258
Thrace FSRU Proposed FSRU Thrace Unknown; owned by Gastrade Unknown 194
Alexandroupolis FSRU Under construction FSRU Alexandroupolis Gastrade 2023 194
Israel Excelerate Excelsior FSRU Operating FSRU Hadera Excelerate Energy 2013 88
Jordan Sheikh Sabah Al Ahmad Al Jaber Al Sabah LNG Terminal, Golar Eskimo Operating FSRU Aqaba Golar 2015 183
Lebanon Beddawi FSRU On hold FRSU Beddawi Unknown Unknown Unknown
Zahrani FSRU Proposed FSRU Zahrani Unknown Unknown Unknown
Selaata FSRU On hold FSRU Selaata Unknown Unknown Unknown
Turkey Marmara LNG terminal Operating Regasification terminal Marmara Ereğlisi, Tekirdag BOTAŞ 1994 221
Izmir Aliağa LNG terminal Operating Regasification terminal Izmir EgeGaz 2006 514
Etki FSRU, Turquoise P FSRU Operating FSRU Izmir Pardus Energy 2016 360
Dӧrtyol LNG terminal, Ertuğrul Gazi FSRU Operating FSRU Gulf of Iskenderun BOTAŞ 2018 197
Saros FSRU, Ertuğrul Gazi FSRU Under construction FSRU Gulf of Saros BOTAŞ 2022 361
Data source: Global Energy Monitor, International Group of Liquefied Natural Gas Importers (GIIGNL) 2022 Annual Report
Note: FSRU=floating storage and regasification unit

Pipeline infrastructure

Table 6. Major regional natural gas pipelines in selected Eastern Mediterranean countries
Pipeline name Status Length (miles) Capacity (billion cubic feet per year) Operators Notes
Arish-Ashkelon Pipeline Operating 56 147-247 East Mediterranean Gas Company, Merhav, Snam S.P.A., EMI-EGI LP, and Egyptian General Petroleum Corporation Subsea pipeline that carries natural gas from Israel’s offshore fields to Egypt
Arab Gas pipeline (AGP) Operating 750 364 EGAS, ENPPI, PETROGET, GASCO, and SPC Onshore pipeline that carries natural gas from Egypt to Jordan, Syria, and Lebanon
Eastern Mediterranean Pipeline (EMG) Proposed 1,243 353 IGI Poseidon S.A. Subsea pipeline that carries natural gas from Israel, Cyprus, and Crete to Europe. Capacity figure only includes Phase 1 planned capacity. Phase 2 expansion, if completed, would double Phase 1 capacity
Trans Adriatic Pipeline (TAP) Operating 541 706 BP, SOCAR, Snam S.P.A., Fluxys, Enagás, and Axpo Onshore and offshore pipeline that carries natural
Trans-Anatolian Pipeline (TANAP) Operating 1,150 565 Southern Gas Corridor Closed Joint Stock Company (SGC), BOTAŞ, BP, and SOCAR Onshore pipeline that carries natural gas across Turkey to the western border with Greece
Data source: Global Energy Monitor, Hydrocarbons Technology, NS Energy Business, company websites

Notes

Endnotes

    1"Egypt Oil & Gas Report, Q4 2021," Fitch Solutions Country Risk & Industry Research, November 2021; "Regional Trends Report: North Africa," Rystad Energy, November 2021; Nermina Kulovic, "Egypt launches new licensing round to keep up medium–term gas output," Rystad Energy, February 23, 2021; "Eni scoops up bulk of acreage in Egypt’s first online licensing round," Rystad Energy, January 13, 2022; "Exploration Trends Report: February 2022," Rystad Energy, February 2022. "Petroleum History," Egyptian Ministry of Petroleum & Mineral Resources website, accessed October 19, 2022.

    2Israel Ministry of Energy, "3rd Bid Round," accessed August 19, 2022, https://www.energy-sea.gov.il/English-Site/Pages/Offshore%20Bid%20Rounds/3rd_Bid_Round.aspx; "Exploration Trends Report – August 2022," Rystad Energy, August 2022, pg. 11.

    3"Exploration Trends Report – August 2022," Rystad Energy, August 2022, pg. 15; Jacob Dick, "Israel Preps Fourth Offshore Bid Round as Collaboration with EU, Egypt on Natural Gas Develops," Natural Gas Intelligence, June 6, 2022; Iain Esau, "Israel to launch offshore bid round as it seeks gas to supply Europe," Upstream Online, June 8, 2022; Israel Ministry of Energy, "Launch of Fourth Offshore Bid Round for Natural Gas Exploration," May 30, 2022, https://www.energy-sea.gov.il/English-Site/Lobby/Articles/Pages/Launch-of-Fourth-Offshore-Bid-Round-for-Natural-Gas-Exploration-Licenses.aspx.

    4Jamie Ingram, "Jordan Plans Nine Block Upstream Offering," Middle East Economic Survey, Volume 62, Issue 15, (April 16, 2021); Jordan Ministry of Energy and Mineral Resources, "Oil & Gas Exploration Opportunities in Jordan 2021," accessed August 19, 2022; "Exploration Trends Report – August 2022," Rystad Energy, August 2022, pg. 15; "Jordan courts international interest in upstream exploration," Rystad Energy, June 29, 2021.

    5Timour Azhari, ed. Allison Williams and Philippa Fletcher, "Lebanon launches second offshore licensing round," Reuters, November 26, 2021; "Lebanon extends deadline for second offshore licensing round," Oil & Gas Journal, June 21, 2022; "Exploration Trends Report – August 2022," Rystad Energy, August 2022, pg. 14. "Second Licensing Round: Timeline," Lebanese Petroleum Administration website, accessed October 19, 2022.

    6Oil & Gas Journal, "Worldwide Look At Reserves and Production," December 2021.

    7U.S. Energy Information Administration, International Energy Statistics database, accessed August 10, 2022; Egypt Oil & Gas Report: Q4 2022, Fitch Solutions Country Risk & Industry Research, July 2022.

    8U.S. Energy Information Administration, International Energy Statistics database, accessed October 6, 2022.

    9World Bank Group, Open Data Portal, ID: SP.POP.TOTL, accessed September 16, 2022. Replace with GDP/Population data IDs

    10Oil & Gas Journal, "Worldwide Look At Reserves and Production," December 2021.

    11"Risha Conventional Gas Field, Jordan," Offshore Technology, May 12, 2022; "CEGCO Risha Gas," ACWA Power, accessed September 16, 2022.

    12"Turkey Oil & Gas Report, Q3 2022," Fitch Solutions Country Risk & Industry Research, May 2022; Wayne C. Ackerman, "Turkey: A new emerging gas player with resources and infrastructure," Middle East Institute, June 15, 2022.

    13Mostefa Ouki, "Egypt – a return to a balanced gas market?" Oxford Institute of Energy Studies, OIES Paper: NG 131, June 2018.

    14Wayne C. Ackerman, "Turkey: A new emerging gas player with resources and infrastructure," Middle East Institute, June 15, 2022.

    15Sujata Ashwarya, "Natural Gas Discoveries and Israel’s Energy Security," Georgetown Journal of International Affairs, Georgetown University, Walsh School of Foreign Service, May 25, 2020; Clifford Krauss, "Israel’s Energy Dilemma: More Natural Gas Than It Can Use or Export," The New York Times, July 5, 2019.

    16"Eni makes a significant gas discovery offshore Cyprus," Eni, August 22, 2022; "Eni, Total Find More Gas off Cyprus," Energy Intelligence, August 22, 2022; For U.S. EIA’s classification of oil and natural gas resource categories, see Philip Budzik and Michael Ford, "Oil and natural gas resource categories reflect varying degrees of certainty," Today in Energy, July 17, 2014.

    17"Calypso: Rystad Energy Upstream Asset Report," Rystad Energy, July 2022; "Aphrodite: Rystad Energy Upstream Asset Report," Rystad Energy, July 2022; "Glaucus: Rystad Energy Upstream Asset Report," Rystad Energy, July 2022; "Eni’s Cronos discovery breathes new life into Cyprus’ gas ambitions," Rystad Energy, August 22, 2022.

    18"Egypt’s Zohr Struggles with Water Breakthrough," Middle East Economic Survey, Vol. 64 No. 23, June 11, 2021; "Egypt: Condensate Output Record as Gas Slumps," Middle East Economic Survey, Vol. 64 No. 23, June 11, 2021; "Zohr: the giant offshore field in Egypt," Eni, accessed August 30, 2022.

    19"Baltim South West Field, Nile Delta," NS Energy Business, accessed September 7, 2022; "Eni starts production of Baltim South West field offshore Egypt," Eni company press release, September 17, 2019; "Eni expands Egypt’s Great Nooros area with Bashrush discovery," Rystad Energy, July 2, 2020; "Eni successfully tests Egypt’s Bashrush discovery in North El Hammad concession in Mediterranean Sea," Oil & Gas Middle East, July 30, 2020; "Eni: Bashrush discovery, in North El Hammad concession in Mediterranean Sea of Egypt, tested with success," Eni, July 28, 2020.

    20"Athena Gas Discovery, Block 12, Israel," Offshore Technology, July 8, 2022; "Energean discovered 8bcm of gas in Athena well offshore Israel," Reuters News Agency, May 9, 2022.

    21"The Tamar Reservoir," Tamar Petroleum, accessed September 7, 2022; "Israel approves development of Leviathan field and Tamar expansion," NS Energy Business, December 17, 2015; "Tamar Natural Gas Field," Offshore Technology, November 7, 2013; "Operations: Leviathan," NewMed Energy, accessed September 7, 2022; "Leviathan Phase 1B Conventional Gas Field, Israel," Offshore Technology, November 23, 2021. "Exploration and production in the middle east," Chevron, accessed September 7, 2022.

    22"Karish and Tanin Field Development, Mediterranean Sea," Offshore Technology, August 24, 2018; "Karish," Rystad Energy, UCube Asset Factsheet, accessed July 7, 2022; "Tanin," Rystad Energy, UCube Asset Factsheet, accessed August 19, 2022; Simon Henderson, "Israel’s Karish Offshore Gas Field: Facts and Figures," The Washington Institute for Near East Policy, June 14, 2022.

    23Nermina Kulovic, "Turkey unveils new gas discovery in Black Sea," Offshore Energy, June 7, 2021.

    24"Cyprus LNG Terminal," Global Energy Monitor, accessed September 21, 2022; "LNG terminal will be ready summer 2023," Financial Mirror, February 8, 2022.

    25Charles Ellinas, "At last, a bankable project for Cyprus," Cyprus Mail, April 24, 2022; Tom Pepper, ed. Jaime Concha, "Uncertainty Continues to Plague East Med Gas," Energy Intelligence, September 20, 2022.

    26"Damietta Segas LNG Terminal," Global Energy Monitor, accessed September 21, 2022; "Egyptian LNG Terminal," Global Energy Monitor, accessed September 21, 2022; "Sumed BW FSRU," Global Energy Monitor, accessed September 21, 2022; Daniel Avis, "Israel Plans Gas Exports to Europe as Output Surges by 22%," Bloomberg, August 24, 2022; Tom Pepper, ed. Michael Sultan, "Israel, Egypt Agree Future Gas Export Deal With EU," Energy Intelligence, June 15, 2022; Tom Pepper, ed. Andrew Kelly, "Pressure Builds to Develop East Med Gas Resources," Energy Intelligence, September 6, 2022.

    27Karim Elgendy, "Egypt as an Eastern Mediterranean power in the age of energy transition," Middle East Institute, July 18, 2022; "El Sisi ratifies EastMed Gas Forum," Enterprise, September 5, 2021.

    28"Revithoussa LNG Terminal," Global Energy Monitor, accessed September 21, 2022; "Greece to upgrade only LNG terminal in preparation for energy supply disruptions," Hellenic Shipping News, April 21, 2022.

    29"Alexandroupolis FSRU Terminal," Global Energy Monitor, accessed September 21, 2022; Harry Aposporis, "Launch of works on Alexandroupolis LNG terminal in Greece," Balkan Green Energy News, May 3, 2022.

    30"Dioriga FSRU," Global Energy Monitor, accessed September 21, 2022; "Argo FSRU," Global Energy Monitor, accessed September 21, 2022; Sanja Pekic, "Argo FSRU project greenlighted by Greece’s regulatory authority," Offshore Energy, March 24, 2022; "Thessaloniki FSRU," Global Energy Monitor, accessed September 21, 2022; "Elpedison plans new Greek FSRU project," LNG Prime, April 12, 2022; "Thrace FSRU," Global Energy Monitor, accessed September 21, 2022; Sanja Pekic, "Gastrade plans Sea of Thrace FSRU," Offshore Energy, March 2, 2022.

    31"Hadera LNG Terminal," Global Energy Monitor, accessed September 21, 2022; Neal Sandler, "Israel National Planning Council approves LNG terminal site at Hadera," S&P Global, September 2, 2011; "Hadera Deepwater LNG Terminal," Excelerate Energy company website, accessed September 21, 2022.

    32"Excelerate plans to move FSRU from Israel to Albania," LNG Prime, May 31, 2022. U.S. Securities and Exchange Commission, Excelerate Energy, Inc., Forms S-1 Registration Statement, 2022, pg. 120.

    33"Aqaba Jordan FSRU," Global Energy Monitor, accessed September 22, 2022; "Natural Gas Regasification Unit," Aqaba Development Corporation company website, accessed September 22, 2022; "ORU Expression of Interest (EOI) Letters from EPC Contractors to participate in Prequalification Stage," Aqaba Development Corporation tenders announcements, January 2, 2022.

    34"Selaata FSRU," Global Energy Monitor, accessed September 22, 2022; "Zahrani FSRU," Global Energy Monitor, accessed September 22, 2022; "Beddawi FSRU," Global Energy Monitor, accessed September 22, 2022; Moslem Ali, "Lebanon Announces Bids for LNG Terminals," Egypt Oil & Gas, July 3, 2019; Stuart Elliot, ed. Jonathan Fox, "Lebanon prioritizes natural gas, eyes three FSRUs, bid round in early 2019: minister," S&P Global, September 18, 2018.

    35"MOL Challenger FSRU," Global Energy Monitor, accessed September 22, 2022.

    36"Etki FSRU," Global Energy Monitor, accessed September 22, 2022; "Izmir Aliaga LNG Terminal," Global Energy Monitor, accessed September 22, 2022; "New floating LNG storage facility to be built in western Turkey’s Izmir," Daily Sabah, July 8, 2020; "Marmara LNG Terminal," Global Energy Monitor, accessed September 22, 2022.

    37"Marmara LNG Terminal," Global Energy Monitor, accessed September 22, 2022.

    38"Gulf of Saros FSRU," Global Energy Monitor, accessed September 22, 2022; David O’Byrne, ed. Claudia Carpenter, "Turkey’s Botas opens tender for FSRU terminal work, connecting pipeline," S&P Global, July 14, 2020.

    39"East Med Gas Pipeline," Global Energy Monitor, accessed September 23, 2022; "Eastern Mediterranean Pipeline Project," NS Energy, accessed September 23, 2022; "EastMed-Poseidon Pipeline: a direct interconnection between sources and markets," Edison company website, accessed September 23, 2022.

    40Nicholas Paphitis, Menelaos Hadjicostis, "Greece, Israel, Cyprus sign deal for EastMed gas pipeline," Associated Press, January 2, 2020; "Cyprus set to step on the gas as drilling plans stack up," Rystad Energy, August 5, 2021.

    41Tom Pepper, ed. Andrew Kelly, "Political Winds No Longer Favor East Med Pipeline, " Energy Intelligence, January 13, 2022; Simon Henderson, "Reality Check for Israel’s Natural Gas Plans, " The Washington Institute for Near East Policy, January 27, 2022.

    42"Arish-Ashkelon Pipeline," Gulf Oil & Gas, accessed September 24, 2022; "Arish-Ashkelon Pipeline," Global Energy Monitor, accessed September 24, 2022; "Arab Gas Pipeline," Global Energy Monitor, accessed September 24, 2022.

    43"Arab Gas Pipeline," Global Energy Monitor, accessed September 24, 2022.

    44Stuart Elliott, ed. Kshitiz Goliya, "Israel approves new route for gas exports to Egypt via Jordan," S&P Global, February 17, 2022;Rasha Mahmoud, "Egypt ready to export gas to Lebanon once US grants waiver," Al-Monitor, June 30, 2022; "Egypt to Supply Natural Gas to Lebanon With 20 Year Old Arab Pipeline," Pipeline Journal, June 20, 2022.

    45"Arish-Ashkelon Pipeline," Global Energy Monitor, accessed September 24, 2022; Simon Henderson, "Israeli Gas Export Route to Egypt Finalized," The Washington Institute of Near East Policy, November 13, 2019.

    46Simon Henderson, "Jordan’s Strategic Decision to Buy Israeli Gas," The Washington Institute of Near East Policy, September 26, 2016; Suleiman AL-Khalidi, "Jordan gets first natural gas supplies from Israel," Reuters, January 1, 2020.

    47"Jordan’s Pipeline Import Plans Pose Significant Risks to LNG Demand," Facts Global Energy, Gas/LNG Alert, December 20, 2018. "Egypt to supply almost half of Jordan’s natural gas needs," The Economist Intelligence Unit, January 21, 2019.

    48Menelaos Hadjicostis, "Cyprus says new gas discovery aids Europe’s energy search," Associated Press, August 22, 2022; "El Sisi ratifies EastMed Gas Forum," Enterprise, September 5, 2021; "Eni’s Cronos discovery breathes new life into Cyprus’ gas ambitions," Rystad Energy, August 22, 2022; "Cyprus set to step on the gas as drilling plans stack up," Rystad Energy, August 5, 2021.

    49"TANAP," Trans Anatolian Natural Gas Pipeline, accessed September 26, 2022; "Trans Anatolian Natural Gas"

    50Dimitar Bechev, "The Trans Adriatic Pipeline: Why it Matters and What Comes Next?" Middle East Institute, December 2, 2020.