Monday, February 20, 2012

The Economic and Geopolitical importance of Eastern Mediterranean gas fields for Greece and the EU

It is our pleasure to introduce to yourselves a valued paper produced by world accredited scientists, Mr. Alain Bruneton, Dr. Elias Konofagos and Professor Anthony E. Foscolos. A scientific document that attempts to prove that there must be enough hydrocarbon deposits in the South-Eastern Mediterranean to contribute significantly to the ever-starved for energy European Union.

Now, especially after the confirmation of significant natural gas deposits in the Exclusive Economic Zone of EU member state Cyprus, the more than likely natural gas reserves that lie within the EEZ of Greece and the huge hydrocarbon potential of the Eastern Mediterranean as a whole, make this Paper more current than ever.

Europe is currently confronted with a unique challenge and a remarkable opportunity! A challenge and opportunity faced also by countries of the Eastern Mediterranean, EU-member and non-EU alike. For the first time ever in Europe’s energy history, the EU is guaranteed an uninterrupted supply of a traditional energy source: The already confirmed and estimated discoveries of substantial hydrocarbon deposits in the Eastern Mediterranean can be complimented by the scientifically estimated deposits within the Exclusive Economic Zone of Greece and in particular those that lie south and southwest of the island of Crete.

Closing, the estimated Greek hydrocarbon deposits complete the European energy puzzle as they contribute to a now more than possible (long-term) scenario that envisages an Israel-Cyprus-Greece-Italy pipeline network, dictating a transit route that avoids non-EU countries and thus guaranteeing an uninterrupted energy supply source for the EU, of the EU.

Hoping that you will recognize the importance of this Paper as we did, we would be happy to receive your comments and queries on the subject.

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