it has become increasingly clear that regional cooperation is needed to make the most out of the region’s resources. The Eastern Mediterranean’s gas potential is promising. But, beside Egypt, the countries in the region have to deal with a number of challenges to exploit their resources. First, these resources are mostly offshore, in deep and ultra-deep waters, which makes drilling a complex and costly operation. When found in commercial quantities, their extraction is expensive. Second, the relevant infrastructure to monetize these resources is quasi-inexistent (outside Egypt). And if this was not enough, the geopolitical risk is high (conflict in Syria, terrorism, the Cyprus problem and sour relations between the Republic of Cyprus and Turkey, a constant state of tension between Lebanon and Israel, deteriorating relations between Turkey and Egypt, and between Turkey and Israel etc.).