It is widely argued that as a result of the 2008-2009 energy crisis between Russia and Ukraine, member-states of the European Union and European countries more generally, want to diversify their energy sources and ultimately reduce their dependency on Russia. In light of this, continental Europe emerges as an energy market in need, while potential alternative energy (natural gas or oil) producers and/or transporters acquire significant geopolitical, geo-economic, and strategic value. The existing energy pipeline projects that end up in Europe, coupled with other similar projects currently in progress and the newly-found natural gas reserves in the eastern Mediterranean – in the Israeli and Cypriot maritime Exclusive Economic Zones – and in the Black Sea, lead to the emergence of a new geo-economic competition of strategic significance. This competition for fulfilling Europe’s energy needs has political extensions and implications for the actors involved. Τhe most important actors taking part in this competition, at this juncture, are arguably Turkey – along with energy producers such as Azerbaijan – and Israel in cooperation with Cyprus and even Greece.