THE DYNAMIC OF ENERGY RELATIONS IN THE EASTERN MEDITERRANEAN AND THEIR INFLUENCE ON EUROPE AND THE REPUBLIC OF SERBIA
THE DYNAMIC OF ENERGY RELATIONS IN THE EASTERN MEDITERRANEAN AND THEIR INFLUENCE ON EUROPE AND THE REPUBLIC OF SERBIA

Summary/Abstract: Throughout history, the Eastern Mediterranean region, geostrategically located at the crossroads of three continents of Africa, Asia and Europe, has played a prominent role in shaping the ancient and modern world. The Eastern Mediterranean is currently at the center of geopolitical challenges, such as instability in the Middle East and energy competition. In the future, the region has a strategic goal and interest in becoming a key energy supplier to Europe, reducing the EU’s dependence on Russian gas, although there are significant obstacles due to logistical and political disputes. Namely, for Europe, which wants to push Russia out of the energy market, the prospects for supplies from the Eastern Mediterranean have diminished for the time being in the short term. Also, the discoveries of natural gas at sea have not increased the political readiness to engage in regional cooperation between the two communities in Cyprus and between Greece and Türkiye; on the contrary, competition over gas has further complicated the already existing disputes over the delimitation of maritime borders (Rau, Seufert & Westphal). Numerous conflicts between Russia and Ukraine, then Israel and Hamas in the Gaza Strip, tensions in Lebanon, have an impact on global energy markets, and thus on the Eastern Mediterranean region. At the same time, war and other regional instabilities have reduced investor interest in the region. Conflicts over borders, resources and sovereignty have only spilled over into the energy sphere, increasing risks and costs for investors. The Eastern Mediterranean region is well-positioned and rich in energy resources, enabling it to strengthen its own energy security, as well as that of Europe. The region’s strategic location enhances its importance as a key transit corridor for gas pipelines and strengthens its role in global energy security, integrating the Eastern Mediterranean into the broader dynamics of the international energy market (EMGF, 2025). All of this could shape energy flows and geopolitical relations in the years to come. Natural gas reserves in the Eastern Mediterranean offer an opportunity to supply Europe and other international markets. The Eastern Mediterranean is slowly becoming an important gas hub, with significant offshore reserves discovered, primarily in the waters around Egypt, Israel and Cyprus. Natural gas reserves in the region are estimated at eight trillion cubic meters and have greatly improved the region’s status in the global energy market, while crude oil reserves are estimated at around 1.8 billion barrels. The Eastern Mediterranean also has untapped potential in the form of significant undiscovered energy reserves, as well as renewable energy sources (wind and solar energy). The most significant gas producers and consumers are Israel and Egypt, while Cyprus is still planning to develop its gas infrastructure. The Eastern Mediterranean is at every point a maritime and land hub, as well as a crossroads of transport communications and routes of economic importance to the world. The region will continue to shape history in the coastal states of the Mediterranean and beyond, and the interests of major and regional powers will intersect and refract through the realization of primarily their geoeconomic and geopolitical goals. Energy development in the Eastern Mediterranean represents a significant perspective for European states in the future, especially for the region of Southeast Europe, as well as for the Republic of Serbia for the purpose of diversifying energy supplies.

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