Mediterranean Natural Gas: Greater Supply, Less Interdependence?
Taking stock of recent changes in the natural gas market, this brief explores the implications for transatlantic relations and interdependence between Europe and the Southern Mediterranean.
The shale gas boom may strongly reduce U.S. imports while an extended period of availability of LNG at good prices will ease European concerns regarding security of supply. That should allow for greater convergence in terms of energy security between Europe and the United States.
In order to diversify supply, the EU will rely more heavily on LNG than on new gas pipelines for imports. These trends may not favor Euro-Mediterranean energy interactions. Future Euro-Mediterranean relations could depend more and more on economic interests rather than energy interdependence.