Geopolitics Magazine November - December 2014 | Página 81

Geopolitics & Daily News Magazine
Conclusions.
Eastern Mediterranean basin (Lebanon, Israel,
Palestine, Egypt and Cyprus) along with offshore
southern Crete and the Ionian Sea have proven,
highly probable and probable reserves well over
500 trillion cubic feet (14 Trillion M3) of natural
gas. This amount can be used to alleviate the
additional natural gas deficit, 240 bcm/year (8.4
tcf) which is forthcoming beyond 2020.
Within this context, neither Russia nor North
Africa or even USA can help the European Union
to meet this additional natural gas energy deficit
due to the dwindling of their natural gas fields
along with their high internal energy demands in
natural gas.
Figure 7. Potential annual natural gas supply from
The Eastern Mediterranean Basin Eastern
Eastern Mediterranean, 50-60 Bcm/year and Greece,
Mediterranean basin (Lebanon, Israel, Palestine,
120-130 Bcm/year
Egypt and Cyprus) along with offshore southern
Crete and the Ionian Sea seems to host more than 18 billion barrels of oil and if exploration and
exploitation is expedite then they can supply the European Union with 1.8 million barrels/day
counterbalancing, in way, the fast depletion of oil fields in the North Sea.

Bibliography:
BP. 2013. World Energy Resources, p. 45.
2. Praeg, D., Unnithan, V., Camerlenghi, A. 2007.
PROJECT: HYDRAMED. Gas hydrate stability
And prospectivity in the Mediterranean sea
www.dur.ac.uk/ey.go/general_public/AAPG
_Newsletter_June.pdf
3. United States Geological Survey (USGS) 2010.
Assessment of undiscovered oil and gas resources of
the Levant Basin Province, Eastern Mediterranean.
Fact Sheet 2010-3014, March 2010.
United States Geological Survey (USGS) 2010. Undiscovered oil and gas of the Nile Delta Basin, Eastern Mediterranean. Fact
Sheet 2010-3027. February 2010.

Dr. Anthony E. Foscolos is an Emeritus Professor at the Technical University of Crete and an Emeritus Research Scientist at the
Geological Survey of Canada.Upon completing his graduate studies at the University of California Berkeley (1966), he was hired
by the Geological Survey of Canada, Institute of Sedimentary and Petroleum Geology to carry research in the area
of hydrocarbons in Central Alberta, Northeastern British Columbia, the Beaufort MacKenzie Region and the Canadian Arctic
Islands; one third of his publications are related to these scientific activities. In 1986 he was elected as a professor at the
Technical University of Crete, Department of Mineral Resources Engineering.
His teaching was related to the field of Inorganic and Organic Geochemistry and Organic Petrology.
Dr.Foscolos also served as its Academic Vice President (1966-1997) and the Head of the Department of Mineral Resources
Engineering (1988-1993). He has also been an energy consultant for the United Nations Development Program (1995-1997),
and Adjunct Professor, Department of Geography and Archaeology, University of Calgary (1975-1986).
His scientific record includes 74 publications, most of them in peer review journals, with a Citation Index of 243 (till 2003), 33
participations at International and National Conferences with presentations and posters and 14 Technical Reports for the Public
Petroleum Corporation of Greece (DEP-EKY), Public Power Corporation of Greece, S.A. (DEH), Institute of Mineral Exploration,
Greece (IGME) and the United Nations.

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