US Undersecretary of State Victoria Nuland essentially confirmed, in a very public manner and from directly affected Cyprus, that Washington is skeptical over the prospect of a natural gas pipeline linking east Mediterranean deposits with Europe, via Crete and mainland Greece.
Asked directly by reporters, after her meeting on Thursday in Nicosia with Cyprus President Nicos Anastasiades, if the EastMed pipeline is now a vital option for the the US side after Russia’s invasion of Ukraine, she said: “The idea here is to build a very long pipeline in very deep water in about 10 years and we think that is very expensive, not economically viable and it will take a long time.”
She added, in quick step, that the West does not have 10 years.
According to a Reuters dispatch, she noted that “…countries in this region have realized that dependence on Russian oil and gas is extremely bad and there is a convergence of interest in diversifying sources of supply, even as we work to move to green energy.”
She also repeated one of Washington’s leitmotifs, in citing the importance of a transition to “green energy”, and a need to diversify energy suppliers and seek alternative energy sources everywhere.
In the wake of the Russian invasion and subsequent sanctions by the west against Putin’s Russia, Israel, Cyprus and Greece recently revisited the prospect of constructing such a pipeline, initially budgeted at six billion euros and described as an extremely complex project in terms of technical specifications.
Reuters also reminded that discussions has resuscitated a proposal aimed at constructing a natgas pipeline from Israeli waters to Turkey, an endeavor which, however, would involve Cyprus, a EU member-state that Turkey does not recognize.
Latest News
EasyJet Expands Its Routes from Athens
The airline’s two new routes will be to London Luton and Alicante and they will commence in summer 2025.
Capital Link Forum Highlights Greece’s Economic Resurgence; Honors BoG Gov Stournaras
Capital Link Hellenic Leadership Award recipient, Bank of Greece Gov. Yannis Stournaras, an ex-FinMin, was lauded for his pivotal role during Greece’s economic recovery
Tourist Spending in Greece Up by 14%, Visa Card Analysis Shows
Greece’s capital Athens emerged as the most popular destination, recording a 17% increase in transactions with Visa cards, surpassing even the cosmopolitan island of Mykonos.
Inflation in Greece Unchanged at 2.4% in Nov. 2024
The general consumer price index (CPI) posted a 0.4% decrease in November compared to the previous month
2024 Christmas Holidays: Extended Shop Hours Schedule
The 2024 Christmas Holidays extended shop hours schedule commences on Thursday, December 12 and runs until the end of the year.
ELSTAT: Seasonally Adjusted Unemployment Down in October
The number of employed individuals reached 4,284,694, an increase of 67,723 compared to October 2023 (+1.6%) and 22,002 compared to September 2024 (+0.5%).
Greek PM’s Chief Economic Adviser Resigns
In the post on his Facebook page, Patelis did not disclose the reasons that led him to step down.
“Masdar Invests in the people of Greece and in the vision of TERNA ENERGY”
Four messages from the CEO of Masdar, the Arab renewable energy giant, after its acquisition of 70% of TERNA ENERGY
Lloyd’s List Greek Shipping Awards 2024: Honors for leading companies and personalities in the Greek shipping sector
20 awards presented at the 21st annual Lloyd's List Greek Shipping Awards
Syria’s Bashar al-Assad, His family Granted Asylum by Russia
Reuters also reported that a deal has been struck to ensure the safety of Russian military bases in the war-ravaged country