The Levant Basin is extended across the eastern portion of the Mediterranean sea in an area off the coast of Israel. The Leviathan Natural Gas Field was discovered in December of the year 2010. The discovery was located meters underwater in the Levantine Basin, which is west of Haifa, Israel. Natural gas in Israel can be found in this Basin, and it has some potential economic benefits. Israel oil and gas is expected to be much cheaper if produced locally in Israel. Other oil and gas companies will want to pay a lot of money for a partnership or even a possible pipeline that would make the resources be usable by more than just Israel.

Prior to the discovery of the hydrocarbons present in the basin, Cyprus and Israel were not on the best of terms. They were close allies but did no business with one another. The discovery of the hydrocarbons brought value to the diplomatic and economic status with both Cyprus and Greece. They had a business to conduct and gained from doing so. Israel wanted to help its allies by boosting security for Israel oil and gas. With the development of the discovered gas fields, they also gained territorial recognition.

There are several economic benefits to having partnerships over energy in the Leviathan Basin and the eastern Mediterranean. Some of the benefits include trade routes that are new and reliable, economic and diplomatic support, transportation, exchanges in technology. Regional cooperation is the key to keeping everyone satisfied and happy. The Leviathan Basin can also guarantee energy security to countries deficient in natural gas and oil in the region.

The key factor for the gas fields to create growth in the economy is for everyone to be on the same page, and have the same goals as far as energy resources go. If relationships with economies with higher powers, like the United States and Iran, become more frequent, than this would result in a possible new gas export market that would not have been made possible without them. This, in turn, would make the economies in Israel, Cyprus, etc. to be better off.

Overall, if all bordering countries are on board with sharing the Leviathan field in Israel than the natural gas would be benefiting all of them and not just one of them. There is enough energy provided to last quite a while even if all of them are using it. Israel Oil and gas exportation and trading would still be possible, and still be benefiting the economy even if not all countries were on board. Everyone involved would benefit economically from the Leviathan field Israel production and exportation. More trade routes would be made, and more business would need to be conducted.