By Nicholas Newman, Contributing Editor
In the Eastern Mediterranean, large discoveries of natural gas have been found off the coast of Israel and Egypt earlier in the decade. This together with increased demand for gas across the region are now reshaping both production and market demand, requiring construction of a series of new pipelines and LNG import and export facilities.
Consequently, in the short term, Egypt could become an important regional gas hub. However, the most far reaching potential development has now been agreed by the Greek, Italian and Cypriot governments with Israel, to lay a pipeline connecting offshore gas fields in Cypriot
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