Resource Rivalry in the Eastern Mediterranean: The View from Washington
The United States welcomed the discovery of gas reserves in the eastern Mediterranean over the past decade as these resources can bolster the energy security of Israel, Cyprus, and Europe as a whole and reduce, to some degree, the European Union’s dependence on exports from Russia. The prospect of new energy sources is particularly encouraging at a time when the EU is struggling with the sovereign debt crisis to which Greece and Cyprus are particularly exposed. At the same time, the United States would like the door to remain open to Turkey’s future involvement when political circumstances permit. Meanwhile the United States seeks to avoid the escalation of tensions in the region. A number of U.S. strategic and commercial interests are at stake in the development of these newly discovered resources.