A Brookings Institution Press and Global Public Policy Institute publication The global market for oil and gas resources is rapidly changing. Three major trends—the rise of new consumers, the increasing influence of state players, and concerns about climate change—are combining to challenge existing regulatory structures, many of which have been in place for a half-century. Global Energy Governance analyzes the energy market from an institutionalist perspective and offers practical policy recommendations to deal with these new challenges. Much of the existing discourse on energy governance deals with hard security issues but neglects the challenges to global governance. Global Energy Governance fills this gap with perspectives on how regulatory institutions can ensure reliable sources of energy, evaluate financial risk, and provide emergency response mechanisms to deal with interruptions in supply. The authors bring together decisionmakers from industry, government, and civil society in order to address two central questions: •What are the current practices of existing institutions governing global oil and gas on financial markets? •How do these institutions need to adapt in order to meet the challenges of the twenty-first century? The resulting governance-oriented analysis of the three interlocking trends also provides the basis for policy recommendations to improve global regulation. Contributors include Thorsten Benner, Global Public Policy Institute, Berlin; William Blyth, Chatham House, Royal Institute for International Affairs, London; Albert Bressand, School of International and Public Affairs, Columbia University; Dick de Jong, Clingendael International Energy Programme; Ralf Dickel, Energy Charter Secretariat; Andreas Goldthau, Central European University, Budapest, and Global Public Policy Institute, Berlin; Enno Harks, Global Public Policy Institute, Berlin; Wade Hoxtell, Global Public Policy Institute, Berlin; Hillard Huntington, Energy Modeling Forum, Stanford University; Christine Jojarth, Center on Democracy, Development, and the Rule of Law, Stanford University; Frederic Kalinke, Department of Politics and International Relations, Oxford University; Wilfrid L. Kohl, School of Advanced International Studies, Johns Hopkins University; Jamie Manzer, Global Public Policy Institute, Berlin; Amy Myers Jaffe, James A. Baker Institute for Public Policy, Rice University; Yulia Selivanova, Energy Charter Secretariat; Tom Smeenk, Clingendael International Energy Programme; Ricardo Soares de Oliveira, Department of Politics and International Relations, Oxford University; Ronald Soligo, Rice University; Joseph A. Stanislaw, Deloitte LLP and The JAStanislaw Group, LLC; Coby van der Linde, Clingendael International Energy Programme; Jan Martin Witte, Global Public Policy Institute, Berlin; Simonetta Zarrilli, Division on International Trade and Commodities, United Nations Conference on Trade and Development.

The East Mediterranean has been witnessing an unparalleled natural resource boom since the late-2000s, when Israel, followed by Cyprus, made its first significant offshore hydrocarbon discoveries in many years. These discoveries have since proven to be substantially larger than any other resources previously explored in the East Mediterranean Sea. A 2010 U.S. Geological Survey suggests the Levant basin-the area including Cyprus and Israel's offshore zones, and the offshore and some onshore territories of Syria, Lebanon, and the Palestinian Territories-could hold as many as 1.7 billion barrels of oil and up to 122 trillion cubic feet (tcf) of natural gas, leaving as much as two thirds of the region's potential resource base still undiscovered. This book provides an overview of recent hydrocarbon discoveries and their significance for the region's resource holders; it also explores the possible implications of these resources for the region's security landscape, their potential to fuel conflict, and options to foster closer regional cooperation and trade integration. It discusses the role U.S. diplomacy and military support could play to ensure continued stability, security, and regional support within the East Mediterranean's shifting geoeconomic framework.

"This monograph provides an overview of recent hydrocarbon discoveries and their significance for the region's resource holders; it also explores the possible implications of these resources for the region's security landscape, their potential to fuel conflict, and options to foster closer regional cooperation and trade integration. It discusses the role U.S. diplomacy and military support could play to ensure continued stability, security, and regional support within the East Mediterranean's shifting geoeconomic framework"--Page x.

"This monograph provides an overview of recent hydrocarbon discoveries and their significance for the region's resource holders; it also explores the possible implications of these resources for the region's security landscape, their potential to fuel conflict, and options to foster closer regional cooperation and trade integration. It discusses the role U.S. diplomacy and military support could play to ensure continued stability, security, and regional support within the East Mediterranean's shifting geoeconomic framework"--Page x.

This collective volume examines the evolving political dynamics of the Eastern Mediterranean. Recently, both the opportunities, such as the energy resources, and the challenges, such as the enormous migration flows, have caught the international attention since they have redefined the balance of powers in the area. This volume assembles the analyses of acknowledged scholars and academics from the Eastmed countries, who assess the most fundamental developments of the region in a comprehensive manner, underscoring the significance of the Eastern Mediterranean for the world politics. The book focuses on readers and parties primarily at European level/ EU affiliated, interested in national, regional, EU or international aspects of the Eastern Mediterranean area, such as politics, security, migration governance and energy developments on regional and EU level.

This book delves into the major developments triggered by the hydrocarbon discoveries in the Eastern Mediterranean over the last twenty years, focusing on maritime boundary delimitation. Examining the impact that the hydrocarbon discoveries have had on the application of the law of the sea rules by the East Med states, the book looks at the new trends concerning the implementation of the law of the sea in the region. The book analyses regional state practice in terms of maritime delimitation, namely the conclusion of bilateral agreements based on the law of the sea rules, both conventional and customary, reflecting the East Med states’ willingness to cooperate in order to reap the benefits of the energy windfall. Alongside this analysis, an outline of the hydrocarbon discoveries and the pertinent maritime activities is given, as well as further coverage of the overlapping maritime claims and disputes between Greece, Cyprus and Turkey on one side, and Lebanon and Israel on the other. Moreover, the book examines the validity of maritime claims made by or through non-state entities in the region, namely the State of Palestine, the UK Sovereign Base Areas and the so-called ‘Turkish Republic of Northern Cyprus’ and their potential impact on the delimitation agreements already in place. The book argues that the East Med paradigm concerning the successful application of the pertinent norms in maritime delimitation proves that international law is resilient and capable of providing solutions in other turbulent regions around the globe. This book will be of interest and importance to academics and students of international law, professionals in the oil and shipping industries, legal professionals and government agencies.