The recently announced discovery of gas off the coast of Palestine will turn Israel from an importer of gas into a producer or even an exporter. This study casts light on the likely geopolitical implications of these discoveries for Israel, for the Middle East, and for the course of the Arab-Israeli conflict. In light of a comprehensive overview of the regional energy map, the study considers the main regional implications of these discoveries, including economic and financial effects for Israel, its strategic position in the region, the effect on the dispute between Lebanon and Israel over maritime borders, and the Arab-Israeli conflict. Another significant effect concerns the dispute between Turkey and Cyprus which has led to economic, political, and military rapprochement between Israel, Cyprus, and Greece in recent years, and has the potential to develop into a new strategic axis between those three states. The study also deals with the American-NATO dimension and the efforts of the United States to dampen down the crisis in the region. There is also a Russian dimension reflected in the concern of Russian energy companies with these discoveries and their efforts to participate in exploiting them. In conclusion, the paper puts forward a vision of the future around the importance of Arab coordination to confront the future challenges arising from these discoveries for the Arab region and for the Arab-Israeli conflict.