Based on other basins, current discoveries in the Israeli Levant Basin likely are only a fraction of the total technically recoverable resources.

FORBES: Israel's Strategic Energy Opportunity Calls For Exports

Further south down the coastline of the Levant Basin, the Gaza Marine field, 30km off the coast of the Palestinian territory, has long been known about.

BBC: Tamar natural gas platform, 2013

Moreover, the fiscal, monetary and macroeconomic effects will be significant as the Levant Basin, the area of the Leviathan and other fields, emerges as a source of energy exports.

FORBES

Situated in waters between Israel, Lebanon, Syria and Cyprus, the Levant Basin boasted an estimated 122 trillion cubic feet of natural gas, offering a path to energy independence for much of the region.

FORBES: Cyprus Extends East Med Gas Role with Egyptian Deal

According to a United States Geological Survey, the Levant Basin, shared by Lebanon, Israel and Cyprus, offers up about 122 trillion cubic feet in recoverable gas and an estimated 1.7 billion barrels of oil.

FORBES: EU Sets Sites on Eastern Med Gas Plans

From information sharing deals with Egypt to possible downstream partnerships with Israel, Cyprus appears willing to work with just about anyone to help reach and extract the more than 122 trillion cubic feet of gas estimated to sit in the Levant Basin.

FORBES: Eastern Mediterranean Gas Race Finds A Referee in Cyprus