DELPHI, Greece - A major offshore natural gas discovery in the Eastern Mediterranean near Cyprus at the Glaucus-1 well by US energy giant ExxonMobil said on February 28 will increase the region’s geopolitical importance and reduce Europe’s energy dependence, leading experts told New Europe at the Delphi Economic Forum.

“The East Med’s importance is associated with the EU and US’s strategic decision to reduce European dependence on Russian natural gas. Therefore, the region is perceived as a s...

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