An integral lab study of Med-algae project was done on locally isolated algal strain Nannochloropsis sp. to examine its potential as a feedstock for biodiesel and other bio-products. Nannochloropsis sp. was isolated and cultivated in 25L Flat Panel Photobioreactor under best growth promoting conditions of light, 300 µmol m- 2 s- 1; salinity, 30 g/l; nitrate, 6 mg/l; pH, 9; and dilution, 10%. The maximum growth data was obtained during autumn, 2014. The results showed that the maximum dry wt was 3.3 g/L, while the growth rate was 1.5/day. Biochemical analyses expressed in % of the dry wt were as following: carbohydrate content, 22; Protein content, 32; while lipid content was 40%. The amount of ashes, 1.1 mg/l; chlorophyll a, 0.58 mg/l; while total carotenoids were 2.56 mg/l. Amino acid analysis indicated the presence of 15 fractions. A detailed analysis of fatty acid methyl esters comprising biodiesel was present in this study. *This study has been organized on the basis of a submitted lab scale research component of Med algae project.