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Israel will leverage East Mediterranean assets

Thursday, April 29, 2021

Significance

The deal -- designed to allow Delek to focus on the larger Leviathan field -- highlights the growing commercial interest in East Mediterranean hydrocarbons. It also underlines the intersection with political developments, including Emirati normalisation with Israel and the regional anti-Turkish alliance.

Impacts

  • Abu Dhabi will increase political engagement and again try to gain observer status at the EMGF.
  • On top of hydrocarbons links, electricity cooperation is likely to rise up the regional agenda.
  • The United States, EU and NATO could increase their focus on calming regional tensions through inter-state dialogue.

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