MenuIn the aftermath of the October 7 Hamas mega-terrorist attack on Israel and the ensuing Gaza war, which jeopardizes the Abraham Accords, a groundbreaking energy deal between Azerbaijan, a secular Shia-Muslim majority nation, and Israel just took place. Azerbaijan’s state-owned SOCAR company will explore the area in the Mediterranean north of the giant Leviathan field.
Several key players, including Ratio Energies and New Med of Israel, Italy’s Eni, BP, and notably Azerbaijan’s SOCAR, have secured licenses to explore and develop new natural gas reserves in the Eastern Mediterranean, focusing on the waters near the Leviathan field—one of the world’s largest deep-sea natural gas deposits. Far from isolating Israel and undermining its newfound Eastern Mediterranean energy role as many feared, the war may accelerate its expansion.
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