Recent large-scale discoveries of natural gas in Israel and Cyprus could help reshape the geopolitical trajectory of the Eastern Mediterranean, a region that is emerging with its own strategic identity at the confluence of the Middle East, North Africa, and Eurasia. If managed with collaborative vision and skill, these new natural gas fields could provide Cyprus and Israel energy independence, catalyze new industries, generate significant export revenues, and foster diplomatic breakthroughs on the Cyprus Question and Turkey-Israel relations. Absent collaborative vision, however, this hydrocarbon bounty could reinforce political divisions and weaken regional stability.