A geopolitical and energy story unfolds in the Southeastern Mediterranean. Natural gas recoverable reserves in the Southeatern Mediterranean currently range between 3,500 and 4,500 Bcm. Theoretically, only 50% of the estimated reserves are currently being extracted in the southeastern Mediterranean. The deposits in Crete and the Ionian Sea strengthen Greece’s position as an energy source and not just as a transit hub.
The confirmed natural gas reserves of Southeastern Mediterranean represent at least 1.7% of the world’s confirmed natural gas reserves and could go up to 5%.
