The Mediterranean is back
Between calls for diversification of natural gas sources and new basins being developed in the Mediterranean and North Africa, a geopolitical axis shift is occurring.
Recent political turmoil in Ukraine is reviving the long-standing European debate on energy security and competitiveness. The European Union today relies on Russia for a significant proportion of its gas imports – around 24% in 2012 at some 160 billion cubic meters, half of it passing through Ukraine – with Central Eastern and South – east Europe almost entirely dependent on this supply. If the Old Continent wants to further diversify its energy sources in the short to medium term, the Mediterranean will become increasingly relevant along with other options, such as shale gas or LNG from the UnitedStates.