for Natural Gas
With vast reserves of natural gas at stake, regional tensions in the Eastern Mediterranean are heating up.
Collapsing Chinese demand, and the resulting crash in LNG prices, could disrupt gas exports from the United States.
While the gas reserves in the Eastern Mediterranean have helped cooperation between Israel and Egypt, they have led to more conflict with Turkey and its neighbors.
American officials concede its latest sanction efforts may not be enough to halt completion of the Nord Stream 2 gas pipeline.
The Power of Siberia pipeline connects Russian gas to Chinese consumers—redrawing the energy map in the process.
Amid record production and swelling stockpiles, natural gas prices have sunk this year.
The Eastern Mediterranean has already become a significant source of natural gas production, but fully developing the region’s gas reserves, as well as finding ways to move that gas to market, has been extremely challenging.
Despite the abnormally low level of gas sitting in storage, natural gas prices have barely moved. Shale gas drillers continue to add supply, which will likely allow the U.S. to avoid a supply crunch this coming winter.
Texas-based Noble Energy and Israel’s Delek Group, the two companies producing gas in Israeli waters, will ship about 64 billion cubic meters of natural gas over the next decade to Egypt’s Dolphinus Holdings.
Despite setbacks for the industry, the U.S. shale gas revolution still persists, with the Marcellus play thriving, drillers using more efficient techniques, and exports possibly rising over the long term.