US withdraws support for EastMed pipeline
Europe in Review
The United States has withdrawn its support for the proposed EastMed subsea pipeline, designed to supply Europe with natural gas from the eastern Mediterranean.
[Euractiv] [Jerusalem post]
Greece, Cyprus and Israel have approved an agreement for the EastMed pipeline, which has been in the planning stage for several years. The countries had aimed to reach a final investment decision this year and have the EUR 6 billion project finished by 2025 in order to help Europe diversify its energy [Reuters].
An agreement was signed in January 2020. The plan is for the pipeline to send between 9 and 12 billion cubic metres of gas a year from offshore fields between Israel and Cyprus to Greece, Italy, and other southeastern European countries.
The US embassy and consulate in Greece said in a statement: “We remain committed to physically interconnecting East Med energy to Europe. We are shifting our focus to electricity interconnectors that can support both gas and renewable energy sources.”
The discovery of substantial natural gas deposits in the eastern Mediterranean in recent years has sharpened the appetite of countries in the region but increased geopolitical tensions between Turkey and its neighbours. [Euractiv]
Turkey opposes the EastMed pipeline, and has said any such plans in the eastern Mediterranean that exclude it were bound to fail. [Reuters]
Greek media outlets have reported that the US believes the EastMed pipeline has caused tensions and wants key players to focus on other projects that would help increase political stability in the region. [Euractiv]
(ka/pk)
