|Offshore natural gas resources in the eastern Mediterranean in relation to the European Union: a legal perspective through the lenses of MedReg|Farah, P.; Tremolada, R. (2015). Offshore natural gas resources in the eastern Mediterranean in relation to the European Union: a legal perspective through the lenses of MedReg. Journal of World Energy Law & Business 8(6): 559-580. dx.doi.org/10.1093/jwelb/jwv035
In: Journal of World Energy Law & Business. Oxford University Press: Oxford. ISSN 1754-9957, more
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The Leviathan natural gas field has become a significant energy source for surrounding states in the eastern Mediterranean such as Lebanon, Cyprus, Syria, Israel, Jordan and Turkey. Tensions in the particular area cause this resource to be exploited on a low efficiency level both when it comes to utilization and organized cooperation between states helping their economies to benefit from the trade in this natural resource. This article analyses the current tendencies towards the expansion of the regulatory frameworks already functional in Mediterranean states west of the Levantine basin and simultaneously aims to give an assessment of these efforts. The main goal is to thoroughly evaluate the appropriateness of the existing cooperative methods and legal solutions regarding energy trade on an open market between developed states for countries with different political interests in a highly unstable area of constant sociological and political turbulence.