The Eastern Mediterranean Energy Bonanza: A Piece in the Regional and Global Geopolitical Puzzle, and the Role of the European Union

Abstract

This article examines current energy-related disputes in the Eastern Mediterranean. It does so by situating them in the context of the Middle East’s broader geopolitical landscape and by showing how global powers’ interests and involvement have become contingent on the international and regional political environments. The latter augmented the intensity of the contestation and helped move identifiable and tangible factors, such as Exclusive Economic Zones, into the imaginative realms of geopolitics. They also provided the concerned actors with opportunities to balance out their adversaries and, by implication, diminished their willingness to compromise. Although the global powers’ interest in Eastern Mediterranean energy resources is limited, the European Union does have interests in these reserves and related aspects. The fact that the monetisation of these resources is highly dependent on the EU market provides the EU with an immense amount of “buyer power” to stabilise the region and potentially balance the fears of both Greece and Turkey.

The Eastern Mediterranean Energy Bonanza: A Piece in the Regional and Global Geopolitical Puzzle, and the Role of the European Union