A maritime deal between Israel and Lebanon, if it is finalised, may unlock new gas resources that Europe desperately needs
Save time by listening to our audio articles as you multitaskThis is not peace in our time: although the deal demarcates Israel’s maritime border with Lebanon it will not end the long state of war between them. But it is striking, and timely for the West, because it may unlock new gas resources that Europe desperately needs to replace supplies from Russia that have been disrupted since its invasion of Ukraine.
Yet a mix of geopolitics and poor governance makes it hard to exploit those resources. Simply getting the stuff to market can be tricky. There is little capacity to transport it from the eastern Mediterranean to Europe. A pipeline has been mooted for years. It could take a short route north to Turkey and link up with existing conduits to the European Union. But to do so it would have to cross Cypriot territory, which is politically fraught.
Perhaps the biggest challenge to exports, though, is soaring domestic demand for gas . In Egypt, for example, it has risen by 35% since 2015. A fast-growing population—which hit 104m in September and adds 1m people every seven months—needs ever more electricity from gas-fired plants. The government has also urged motorists to switch fuels: many of Cairo’s ubiquitous white taxis now run on compressed natural gas rather than petrol.
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