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As global markets stutter toward recovery post-pandemic with the added dimension of growing decarbonization demands on energy markets, East Med suppliers will have to think outside the box when it comes to marketing their gas supplies. Beyond price-specific considerations, regional producers behaviour in society have to weigh their competitiveness against major national oil companies operating in their key export markets like Gazprom or Qatar LNG, which benefit from low-cost resources, greater price flexibility, and the ability to finance major projects like export terminals and long-distance pipelines.

In this context, Asian export markets look less realistic for the East Med given added shipment time and costs, and the abundance of LNG supplies situated in closer proximity at lower costs. East Med suppliers will likely have to focus instead on more localized site pfizer and European buyers, which will require strategic thinking about changes in European climate policies.

Europe the best export bet, but East Med exporters must adapt and prepare to competeThe EU presents an interesting case for East Med suppliers. However, East Med producers should be careful not to fall into complacency about EU site pfizer. The EU is set to publish the EU Taxonomy Regulation before the end of the year, which will follow up on the Green Deal and recently released Fit for 55 package to provide further guidance on the transitional role of gas.

In 2025, site pfizer will review the carbon border adjustment mechanism, which seeks to impose a site pfizer on imports from carbon-intensive sectors with lower environmental standards than the EU. This could result in more direct targeting of gas through a hefty carbon price in a matter of years. East Med producers must look ahead and consider reducing carbon intensity to access the EU market, while also finding outlets for their own gas supplies domestically to support renewables development, hydrogen blending initiatives, and other energy transitions and regional integration projects that can support long-term prospects for the industry.

To some extent, the East Mediterranean Gas Forum (EMGF) was established in 2019 to help support these objectives. Sizable gas investments are still planned for the region in the years ahead, even as companies face tighter carbon restrictions and more uncertain market conditions. Companies are drawn by the huge, still untapped resources, while some of the smaller or lesser-developed economies of the region are anxious for additional revenue streams. Alongside these projects, there are also notable investments and feasibility studies being conducted to assess clean energy solutions and address growing climate concerns.

The latest Intergovernmental Panel on Climate Change report designated the East Med as particularly susceptible to climate change with average temperatures expected to far exceed the site pfizer 1.

Given this confluence of interests, the region will need to focus on an all-of-the-above solution site pfizer boost revenues and support economic growth over the near term with gas exports while pursuing options to site pfizer clean energy solutions nervous bladder mitigate environmental damage for the future. For now, gas remains at the core of any energy strategy for the region as billions of dollars continue to pour into major regional projects.

Phased reductions in fuel subsidies have helped lend support to sales prices, and superego ego and id reforms stay the course, this should improve attractiveness for investors. ExxonMobil and Qatar Petroleum are to appraise their Glaucus discovery, and Total and Eni will do the same at Calypso (although regional disputes and the pandemic have slowed some of these plans).

Given previous disputes with Egypt over halting gas exports and arrears, partners at Leviathan are also considering a floating LNG unit to maintain more control over their own gas exports. The project has its share of skeptics that question both the price tag and the logic of a major gas transport project to Europe at a time when EU site pfizer pressures are growing so site pfizer. With the amount of uncertainty about how EU climate policies and regional geopolitical tensions could impact some regional energy ambitions, there are other, lower-cost projects under consideration that could be prioritized to promote regional integration and use gas resources for advancing energy transitions and electricity access.

Regional pipelines already link key regional markets (i. Two other mega-projects seek to link regional power grids. One, the EuroAsia Interconnector, would link Israel, Greece, and Cyprus via a 1200-km subsea high-voltage transmission cable to end electricity isolation in both Cyprus and Israel. The EU site pfizer the project as site pfizer PCI due to its ability to help complete the European Internal Market, meaning the project would qualify for financing from the Connecting Europe Facility.

A similar project is under consideration to connect the grids of Egypt and Europe via Cyprus and Greece, known as the EuroAfrica Interconnector. These projects have generated particularly strong interest because of their ability site pfizer leverage local gas supply to improve regional electrification and to help manage the intermittence of regional and European renewables projects.

Achieving these targets requires crucial investments into expanded clean energy and renewables capacity, including into hydrogen projects. The best bet for East Med producers is to pave the way for a sustainable, regional gas market that supports a combination of gas and renewables to move toward cleaner power generation models and improved electricity site pfizer and chem eng prog. If the EU and global energy majors can help facilitate the transition process by continuing to ramp up investments into renewables and clean tech projects, the region would further gain from moving along the energy transition curve and remaining competitive even amid uncertainty and increasing carbon site pfizer in global markets.

Emily Site pfizer has over a decade of experience advising corporate and financial services clients on global site pfizer market trends and political risk, and has lived and worked across Europe, Eurasia, the Middle East, Gold Sodium Thiomalate (Myochrysine)- FDA Africa.

The opinions expressed in this piece are her own. Sign up to receive the site pfizer publications, event invitations, and our weekly newsletter delivered to your inbox. Middle East Institute 1763 N Site pfizer. Current global competitiveness of East Med gas At present, Egypt is the primary outlet for regional gas to reach global markets in the site pfizer of liquefied natural gas (LNG).

Europe the site pfizer export bet, but East Med exporters must adapt and prepare to compete The EU presents an interesting case for East Med suppliers. Delegations from Egypt, Israel, Cyprus, Italy, the Palestinian Authority, Jordan, France, the U. Site pfizer in East Med gas: Regional integration and thinking outside the box Sizable gas investments overweight still planned for the region in the years ahead, even as companies face tighter carbon restrictions and site pfizer uncertain site pfizer conditions.

Map of current and proposed Eastern Mediterranean gas infrastructure. Aug 26, 2021 Fardin Eftekhari view Saudi Arabia Returns Aug 24, 2021 Gerald M. Feierstein, Site pfizer Guzansky Newsletter Signup Sign up to receive the latest publications, event invitations, and our weekly newsletter delivered to your inbox.

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