In this report published by the German Marshall Fund, Washington Institute fellow Simon Henderson discusses ways of surmounting the challenges Israel and Cyprus face as they seek to develop newfound oil and gas deposits in the Eastern Mediterranean Sea. [The Washington Institute for Near East Policy]

A bit further to the northeast, the Caspian Sea also holds bountiful oil and gas resources. In a timely report given the long-awaited startup of Kazakhstan’s giant Kashagan oil field later this year (fingers crossed), the EIA discusses the Caspian region’s growing importance, particularly with regard to natural gas. [EIA]

Fourth US LNG export project approved by the Department of Energy. Dominion looks to convert its Cove Point import terminal in Maryland to a liquefaction facility. “Shipments for Cove Point are under contract for 20 years with affiliates of Tokyo-based Sumitomo Corp. (8053) and GAIL India Ltd. (GAIL), based in New Delhi.” [Bloomberg Business Week]