OFFSHORE LNG COOPERATION

Öz

Traditionally, offshore gas exploitation involved gas gathering pipelines to onshore facilities where it is processed and delivered to markets, by pipeline or liquefied onshore. So far, the Eastern Mediterranean has proved no different, with each country pursuing gas pipelines to their own shore. This article proposes that offshore floating production and liquefaction, for exports of LNG direct to markets, has many advantages, including being quicker and cheaper. It could lead to an offshore LNG hub and can be a route for regional cooperation. There are international examples, such as Senegal / Mauretania, Mozambique and indeed is being investigated for the East Mediterranean. Obvious markets for the LNG lie in Europe where gas prices remain considerably elevated over pre-Covid price levels.