East Med offers huge opportunities in energy: Leading US expert

There are huge energy opportunities in the Eastern Mediterranean that will create huge benefits for many countries, said Richard L. Morningstar, the founding director and chairman of the Global Energy Center at the Atlantic Council and the secretary of state's former special envoy for Eurasian energy.

Morningstar said he did not know of another situation with so many opportunities that would benefit so many countries yet also have so many political difficulties. 

"So to take advantage of those opportunities is a good thing. That is not to say there will be an agreement on projects; there certainly won't be one tomorrow. But it is a start and I think it creates real opportunities," added the former U.S. ambassador to Azerbaijan. 

The former envoy also touched on possible energy cooperation between Israel and Turkey.

"It is hard for me to comment on a specific project but obviously it is very positive that Israel and Turkey have been able to reconcile and renew a positive relationship. I think that it is very significant that [Israel's Energy Minister Yuval] Steinitz came to Turkey. First visit of high level Israeli official, since Turkey and Israel agreed to resume relations. Certainly it opens up the possibilities for cooperation between Turkey and Israel, in the gas area with respect to East Med gas. This is something that Turkish companies have always been interested in but have had their hands tied because of what had been the unfortunate relationship between Israel and Turkey. So this is a good thing. There is some optimism with respect to a reunification agreement with respect to Cyprus that also opens up possibilities. I think there are huge opportunities in the Eastern Mediterranean," he said. 

Asked whether the U.S...