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Next Previous Signs of life again for the East Med pipeline – “It was viable” HOME • INSIDER • CYPRUS • Signs of life again for the East Med pipeline – “It was viable”
By & nbsp; Haris Floudopoulos
Mobility has prevailed in recent days around the East Med gas pipeline project, recently found in foreground due to the withdrawal of support for the project by the United States.
However, the changes taking place in the context of European energy policy, the decision to rapid & nbsp; dependence on Russian gas, as well as rising prices, create a new backdrop in which the project becomes attractive again. b>
In this context, a few days ago, the CEO of the Italian Edison Nicola Monti & nbsp; stressed the urgent need to bring the EastMed pipeline project back into focus in order to be able to differentiate supplies from gas sources that have already been discovered and are close in the European market.
The EastMed project “was sustainable and competitive even before the crisis, but it is even more sustainable and competitive today”, stressed Monti.
It is a “project that can be implemented within four years once all the financial and political conditions are met,” Monti added. According to him, it is the only real project for the differentiation of gas sources. make the pipeline sustainable.
It is worth noting that the & nbsp; The recent withdrawal of US support for the pipeline was motivated by concerns about the commercial and technical viability of the project. & nbsp;
At the same time, the EU plan Repower EU, prioritizes Europe's independence from Russian gas, a fact of particular importance for the East Med pipeline, which is expected to supply Greece and European markets with natural gas from its rich deposits Eastern Mediterranean, from Cyprus, Israel and Egypt.
It is clear that the East Med pipeline is returning to the forefront due to the wider developments and the conflict in Ukraine as the EU It is imperative to find viable and adequate alternatives to replace Russian gas. and tomorrow in Washington & nbsp; and in which the secretary general will participate, among others. of RIS, Alexandra Sdoukou as well as the initiator of the EastMed Act legislation and head of the US Senate Foreign Relations Committee Bob Menendez.