The gas fields of the eastern Mediterranean, discovered over the past decade, have conjured a mix of myth: Aphrodite goddess of beauty, the sorceress Calypso, and the sea beast Leviathan.
But the process of bringing these resources to market has been an odyssey with many twists and turns. Now the political struggle has become a clash of the titans.
The American firm Noble discovered the Tamar gas field off Israel in 2009, the giant Leviathan field in 2010, then Aphrodite off Cyprus (the Greek, internationally recognised country) in 2011. Eni of Italy found Zohr in deep water offshore Egypt in 2015, the largest gas field ever discovered in the Mediterranean, then Calypso off Cyprus in 2018. Meanwhile Greece-based Energean began developing the smaller Tanin and Karish fields in Israel.
These resources were hoped to be the foundation for a major collaborative effort in the region on gas development and exports, improving European energy security by providing an alternative to Russian gas, and tying together long-quarrelling neighbours in cooperation.
In 2012, the East Mediterranean pipeline was proposed, to bring the area’s gas to Crete, mainland Greece then onwards to Italy. It would be the world’s deepest and longest undersea pipeline. Alternatively, a liquefied natural gas (LNG) plant, possibly a floating unit, could be built somewhere to export by tanker.
Most commentary has focused on the political obstacles to development, and they are certainly massive. Israel’s maritime border dispute with Lebanon has gone quiet, and Noble has concluded deals to sell gas to neighbouring Jordan and Egypt.
Instead, the main recent problems revolve around Turkey. Ankara does not recognise Greek Cyprus, but backs the Turkish Republic of Northern Cyprus, which it occupies. No other country recognises the territory.
Turkey is also not party to the UN Convention on the Law of the Sea, which governs maritime boundaries, one of only a few states in this position. Israel, Syria and the US are other notable hold-outs.
In November, Turkey signed an agreement with the Government of National Accord (GNA) in the Libyan capital of Tripoli to demarcate their maritime border, ignoring the proximity of the Greek island of Crete. The Turkish energy minister said last month it would begin exploring the area for oil and gas within three to four months.
The Turkish drill-ship Yavuz, the title of the Ottoman sultan, who conquered the Levant and Egypt, has been drilling in various locations off Cyprus. No discoveries have been announced, nor is it clear what Turkey would do with any gas found, but the intention is to contest Greek Cyprus’s right to these waters and stake a claim for any future negotiations.
In response, the EU has sanctioned Turkish individuals over the drilling. And a grouping of Cyprus, Greece, Egypt, France and the UAE has condemned Turkey’s drilling in the area.
But the economic and commercial obstacles to full development of the fields are, if anything, more important. Most of the local markets are small and already saturated. Egypt is well-supplied by Zohr and its legacy fields for now, though it will likely need more in the mid-2020s.
The other big regional market, Turkey, was searching avidly for additional supplies a few years back. But with the completion of the TurkStream pipeline from Russia, the Trans-Anatolian pipeline from Azerbaijan, new LNG import capacity, the option of the Iraqi Kurdistan region at some point, and a slowing economy, Ankara is now spoilt for choice. This gives it no incentive to search for political solutions to facilitate East Mediterranean imports.
What about the long-running plan of diversifying European supplies? Israeli regulations do not allow gas to be exported at a lower price than it is sold in the country. Energean, with the cheapest contracts, sells at $4 (Dh14.7) per million British thermal units.
At current oil prices, Egypt is paying gas producers about $3.50-$4.50. Yet the European market is heavily oversupplied, and the Covid-19 pandemic will drive demand down further. Spot liquefied natural gas is available now at just over $2, and the Dutch TTF hub, the leading Europe trading point, for $1.70.
Even if international prices recover, as they should to a degree, it is clear there is no economic case to build an expensive pipeline or LNG plant to move gas to Europe and sell it at a lower price.
Bringing together supplies from several countries, fields and operators to serve a single export route is commercially tricky. Meanwhile Egypt has even shut down its operational LNG plant, at Idku near Alexandria, and halted plans to restart the other facility, at Damietta in the eastern delta, as exports are unprofitable.
Recent exploration has been disappointing. Much-hyped wells off Egypt have been dry or found limited volumes. A consortium of Eni, France’s Total and Russia’s Novatek completed Lebanon’s debut offshore well in April, but it also came up dry. This dashed already unrealistic hopes for a hydrocarbon windfall to bail out the country’s crisis-hit economy.
Offshore gas was the reason for conceiving of the East Mediterranean as a unitary area of policy in the first place. Now it has become a secondary character in bigger political plots. Odysseus, detained by Calypso for seven years, took ten years to return home to Greece. Eastern Mediterranean gas developers face an even longer and more convoluted route ahead.
Robin M. Mills is CEO of Qamar Energy, and author of The Myth of the Oil Crisis
Test series fixtures
(All matches start at 2pm UAE)
1st Test Lord's, London from Thursday to Monday
2nd Test Nottingham from July 14-18
3rd Test The Oval, London from July 27-31
4th Test Manchester from August 4-8
Financial considerations before buying a property
Buyers should try to pay as much in cash as possible for a property, limiting the mortgage value to as little as they can afford. This means they not only pay less in interest but their monthly costs are also reduced. Ideally, the monthly mortgage payment should not exceed 20 per cent of the purchaser’s total household income, says Carol Glynn, founder of Conscious Finance Coaching.
“If it’s a rental property, plan for the property to have periods when it does not have a tenant. Ensure you have enough cash set aside to pay the mortgage and other costs during these periods, ideally at least six months,” she says.
Also, shop around for the best mortgage interest rate. Understand the terms and conditions, especially what happens after any introductory periods, Ms Glynn adds.
Using a good mortgage broker is worth the investment to obtain the best rate available for a buyer’s needs and circumstances. A good mortgage broker will help the buyer understand the terms and conditions of the mortgage and make the purchasing process efficient and easier.
Read more about the coronavirus
Famous left-handers
- Marie Curie
- Jimi Hendrix
- Leonardo Di Vinci
- David Bowie
- Paul McCartney
- Albert Einstein
- Jack the Ripper
- Barack Obama
- Helen Keller
- Joan of Arc
NBA Finals so far
(Toronto lead 3-1 in best-of-seven series_
Game 1 Raptors 118 Warriors 109
Game 2 Raptors 104 Warriors 109
Game 3 Warriors 109 Raptors 123
Game 4 Warriors 92 Raptors 105
SANCTIONED
- Kirill Shamalov, Russia's youngest billionaire and previously married to Putin's daughter Katarina
- Petr Fradkov, head of recently sanctioned Promsvyazbank and son of former head of Russian Foreign Intelligence, the FSB.
- Denis Bortnikov, Deputy President of Russia's largest bank VTB. He is the son of Alexander Bortnikov, head of the FSB which was responsible for the poisoning of political activist Alexey Navalny in August 2020 with banned chemical agent novichok.
- Yury Slyusar, director of United Aircraft Corporation, a major aircraft manufacturer for the Russian military.
- Elena Aleksandrovna Georgieva, chair of the board of Novikombank, a state-owned defence conglomerate.
Benefits of first-time home buyers' scheme
- Priority access to new homes from participating developers
- Discounts on sales price of off-plan units
- Flexible payment plans from developers
- Mortgages with better interest rates, faster approval times and reduced fees
- DLD registration fee can be paid through banks or credit cards at zero interest rates
Living in...
This article is part of a guide on where to live in the UAE. Our reporters will profile some of the country’s most desirable districts, provide an estimate of rental prices and introduce you to some of the residents who call each area home.
The Settlers
Director: Louis Theroux
Starring: Daniella Weiss, Ari Abramowitz
Rating: 5/5
if you go
The flights
Emirates fly direct from Dubai to Houston, Texas, where United have direct flights to Managua. Alternatively, from October, Iberia will offer connections from Madrid, which can be reached by both Etihad from Abu Dhabi and Emirates from Dubai.
The trip
Geodyssey’s (Geodyssey.co.uk) 15-night Nicaragua Odyssey visits the colonial cities of Leon and Granada, lively country villages, the lake island of Ometepe and a stunning array of landscapes, with wildlife, history, creative crafts and more. From Dh18,500 per person, based on two sharing, including transfers and tours but excluding international flights. For more information, visit visitnicaragua.us.
What is Reform?
Reform is a right-wing, populist party led by Nigel Farage, a former MEP who won a seat in the House of Commons last year at his eighth attempt and a prominent figure in the campaign for the UK to leave the European Union.
It was founded in 2018 and originally called the Brexit Party.
Many of its members previously belonged to UKIP or the mainstream Conservatives.
After Brexit took place, the party focused on the reformation of British democracy.
Former Tory deputy chairman Lee Anderson became its first MP after defecting in March 2024.
The party gained support from Elon Musk, and had hoped the tech billionaire would make a £100m donation. However, Mr Musk changed his mind and called for Mr Farage to step down as leader in a row involving the US tycoon's support for far-right figurehead Tommy Robinson who is in prison for contempt of court.
UAE central contracts
Full time contracts
Rohan Mustafa, Ahmed Raza, Mohammed Usman, Chirag Suri, Mohammed Boota, Sultan Ahmed, Zahoor Khan, Junaid Siddique, Waheed Ahmed, Zawar Farid
Part time contracts
Aryan Lakra, Ansh Tandon, Karthik Meiyappan, Rahul Bhatia, Alishan Sharafu, CP Rizwaan, Basil Hameed, Matiullah, Fahad Nawaz, Sanchit Sharma
COMPANY%20PROFILE
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Real estate tokenisation project
Dubai launched the pilot phase of its real estate tokenisation project last month.
The initiative focuses on converting real estate assets into digital tokens recorded on blockchain technology and helps in streamlining the process of buying, selling and investing, the Dubai Land Department said.
Dubai’s real estate tokenisation market is projected to reach Dh60 billion ($16.33 billion) by 2033, representing 7 per cent of the emirate’s total property transactions, according to the DLD.
Schedule for Asia Cup
Sept 15: Bangladesh v Sri Lanka (Dubai)
Sept 16: Pakistan v Qualifier (Dubai)
Sept 17: Sri Lanka v Afghanistan (Abu Dhabi)
Sept 18: India v Qualifier (Dubai)
Sept 19: India v Pakistan (Dubai)
Sept 20: Bangladesh v Afghanistan (Abu Dhabi) Super Four
Sept 21: Group A Winner v Group B Runner-up (Dubai)
Sept 21: Group B Winner v Group A Runner-up (Abu Dhabi)
Sept 23: Group A Winner v Group A Runner-up (Dubai)
Sept 23: Group B Winner v Group B Runner-up (Abu Dhabi)
Sept 25: Group A Winner v Group B Winner (Dubai)
Sept 26: Group A Runner-up v Group B Runner-up (Abu Dhabi)
Sept 28: Final (Dubai)
MATCH INFO
Everton v Tottenham, Sunday, 8.30pm (UAE)
Match is live on BeIN Sports
Mohammed bin Zayed Majlis
SUNDAY'S ABU DHABI T10 MATCHES
Northern Warriors v Team Abu Dhabi, 3.30pm
Bangla Tigers v Karnataka Tuskers, 5.45pm
Qalandars v Maratha Arabians, 8pm
Punchy appearance
Roars of support buoyed Mr Johnson in an extremely confident and combative appearance
Zayed Sustainability Prize
Ferrari 12Cilindri specs
Engine: naturally aspirated 6.5-liter V12
Power: 819hp
Torque: 678Nm at 7,250rpm
Price: From Dh1,700,000
Available: Now
MATCH INFO
What: India v Afghanistan, first Test
When: Starts Thursday
Where: M Chinnaswamy Stadium, Bengalaru
BMW M5 specs
Engine: 4.4-litre twin-turbo V-8 petrol enging with additional electric motor
Power: 727hp
Torque: 1,000Nm
Transmission: 8-speed auto
Fuel consumption: 10.6L/100km
On sale: Now
Price: From Dh650,000
Walls
Louis Tomlinson
3 out of 5 stars
(Syco Music/Arista Records)
WRESTLING HIGHLIGHTS
What to watch out for:
Algae, waste coffee grounds and orange peels will be used in the pavilion's walls and gangways
The hulls of three ships will be used for the roof
The hulls will painted to make the largest Italian tricolour in the country’s history
Several pillars more than 20 metres high will support the structure
Roughly 15 tonnes of steel will be used
Dust and sand storms compared
Sand storm
- Particle size: Larger, heavier sand grains
- Visibility: Often dramatic with thick "walls" of sand
- Duration: Short-lived, typically localised
- Travel distance: Limited
- Source: Open desert areas with strong winds
Dust storm
- Particle size: Much finer, lightweight particles
- Visibility: Hazy skies but less intense
- Duration: Can linger for days
- Travel distance: Long-range, up to thousands of kilometres
- Source: Can be carried from distant regions
SPECS
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Fight card
1. Featherweight 66kg: Ben Lucas (AUS) v Ibrahim Kendil (EGY)
2. Lightweight 70kg: Mohammed Kareem Aljnan (SYR) v Alphonse Besala (CMR)
3. Welterweight 77kg:Marcos Costa (BRA) v Abdelhakim Wahid (MAR)
4. Lightweight 70kg: Omar Ramadan (EGY) v Abdimitalipov Atabek (KGZ)
5. Featherweight 66kg: Ahmed Al Darmaki (UAE) v Kagimu Kigga (UGA)
6. Catchweight 85kg: Ibrahim El Sawi (EGY) v Iuri Fraga (BRA)
7. Featherweight 66kg: Yousef Al Husani (UAE) v Mohamed Allam (EGY)
8. Catchweight 73kg: Mostafa Radi (PAL) v Ahmed Abdelraouf of Egypt (EGY)
9. Featherweight 66kg: Jaures Dea (CMR) v Andre Pinheiro (BRA)
10. Catchweight 90kg: Tarek Suleiman (SYR) v Juscelino Ferreira (BRA)
Pharaoh's curse
British aristocrat Lord Carnarvon, who funded the expedition to find the Tutankhamun tomb, died in a Cairo hotel four months after the crypt was opened.
He had been in poor health for many years after a car crash, and a mosquito bite made worse by a shaving cut led to blood poisoning and pneumonia.
Reports at the time said Lord Carnarvon suffered from “pain as the inflammation affected the nasal passages and eyes”.
Decades later, scientists contended he had died of aspergillosis after inhaling spores of the fungus aspergillus in the tomb, which can lie dormant for months. The fact several others who entered were also found dead withiin a short time led to the myth of the curse.
UAE currency: the story behind the money in your pockets
UAE jiu-jitsu squad
Men: Hamad Nawad and Khalid Al Balushi (56kg), Omar Al Fadhli and Saeed Al Mazroui (62kg), Taleb Al Kirbi and Humaid Al Kaabi (69kg), Mohammed Al Qubaisi and Saud Al Hammadi (70kg), Khalfan Belhol and Mohammad Haitham Radhi (85kg), Faisal Al Ketbi and Zayed Al Kaabi (94kg)
Women: Wadima Al Yafei and Mahra Al Hanaei (49kg), Bashayer Al Matrooshi and Hessa Al Shamsi (62kg)
Key facilities
- Olympic-size swimming pool with a split bulkhead for multi-use configurations, including water polo and 50m/25m training lanes
- Premier League-standard football pitch
- 400m Olympic running track
- NBA-spec basketball court with auditorium
- 600-seat auditorium
- Spaces for historical and cultural exploration
- An elevated football field that doubles as a helipad
- Specialist robotics and science laboratories
- AR and VR-enabled learning centres
- Disruption Lab and Research Centre for developing entrepreneurial skills
More from Neighbourhood Watch:
THE SPECS
Engine: 1.5-litre turbocharged four-cylinder
Transmission: Constant Variable (CVT)
Power: 141bhp
Torque: 250Nm
Price: Dh64,500
On sale: Now
The specs
Engine: Turbocharged four-cylinder 2.7-litre
Power: 325hp
Torque: 500Nm
Transmission: 10-speed automatic
Price: From Dh189,700
On sale: now
Jurassic%20Park
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