This week, ExxonMobil announced on Thursday that it has made the world’s third-biggest natural gas discovery in two years at Glaucus-1 well in Block 10, off the coast of Cyprus.
Natural Gas Discovery – Glaucus-1 Well in Block 10, off the Coast of Cyprus.
Preliminary well data interpretation suggests there could be approximately 5 trillion to 8 trillion cubic feet (142 billion to 227 billion cubic meters) of natural gas resources.
With ExxonMobil natural gas discovery, following Eni’s Zohr natural gas discovery back in 2015 and Egypt’s recent oil and gas exploration blocks award to a number of oil majors, the Mediterranean sea is apparently becoming a hot spot, known for some of the world’s largest natural gas discoveries.
But soon enough, the region could also be a hot spot for disputes. Because natural resources not only bring prosperity, they also bring disputes and political risks.
Connecting the dots between: Mediterranean sea, Natural Gas, Europe, Energy Security, Energy Sources Diversification, Pipeline, Russia and Political risk, could tell us a lot about the future development in the Mediterranean Sea.
