Libyan natural gas exports via the Greenstream underwater pipeline were cut Feb. 22, with reports also stating that the Libyan oil exports were affected at a number of different port terminals. With nearly all of Libya's natural gas exports and most of its oil exports (around 30 percent) going to Italy, Rome is understandably the most concerned country regarding the instability in Libya. The Italian government has thus far responded to the energy cutoffs by stating that it will not be affected in the short term. However, the price of oil has been rising due to the instability, which will not be a welcome cost to Mediterranean Europe that has only recently exited a sharp recession — and Portugal and Greece looking at further economic contraction in 2011. Furthermore, Italy and Greece are worried that unrest in Libya will lead to an increase in attempts to cross the Mediterranean by Libyans and migrants from rest of Africa as rule of law collapses in the North African state.
