• 3 minutes e-car sales collapse
  • 6 minutes America Is Exceptional in Its Political Divide
  • 11 minutes Perovskites, a ‘dirt cheap’ alternative to silicon, just got a lot more efficient
  • 2 days The United States produced more crude oil than any nation, at any time.
  • 8 days e-truck insanity
  • 3 days How Far Have We Really Gotten With Alternative Energy
  • 7 days Oil Stocks, Market Direction, Bitcoin, Minerals, Gold, Silver - Technical Trading <--- Chris Vermeulen & Gareth Soloway weigh in
  • 6 days James Corbett Interviews Irina Slav of OILPRICE.COM - "Burn, Hollywood, Burn!" - The Corbett Report
  • 6 days The European Union is exceptional in its political divide. Examples are apparent in Hungary, Slovakia, Sweden, Netherlands, Belarus, Ireland, etc.
  • 8 days Biden's $2 trillion Plan for Insfrastructure and Jobs
  • 8 days "What’s In Store For Europe In 2023?" By the CIA (aka RFE/RL as a ruse to deceive readers)
  • 11 days Bankruptcy in the Industry

U.S. Doesn’t See EastMed Pipeline As Viable Alternative To Russian Gas

A planned pipeline to carry natural gas from the Eastern Mediterranean to Europe is too expensive to build and will be late to help Europe diversify its gas supply away from Russia, U.S. Under Secretary for Political Affairs Victoria Nuland said on Thursday.  

The EastMed pipeline, for which a final investment decision is expected this year, is planned to deliver around 10 billion cubic meters of natural gas to the European Union (EU) through Greece and Italy. The EU has backed the project as a means to diversify its natural gas imports away from Russia. The EastMed project is expected to meet some 10-15 percent of the EU's projected natural gas needs. For the EastMed pipeline project, Israel, Greece, and Cyprus signed in early 2020 an agreement to build the infrastructure, aiming for a final investment decision in 2022 and for pipeline completion by 2025.

Following the Russian invasion of Ukraine, the European Union—with the help of American liquefied natural gas (LNG)—finds itself in a rush to replace as much Russian gas supply as soon as possible. The Russian war in Ukraine made Europe rethink its energy strategy, and the European Union has now drafted plans to cut EU demand for Russian gas by two-thirds before the end of 2022 and completely by 2030.

The Eastmed pipeline will be very long and run very deep in the Mediterranean, which will complicate construction that could take a decade, Nuland said after meeting with the President of Cyprus, Nicos Anastasiades, during a tour in Greece, Turkey, and Cyprus.

Anastasiades, for this part, said he had stressed in the meeting with Nuland “that Cyprus, along with liked-minded countries of our region, can make a substantive contribution to the effort to strengthen EU energy independence.”

Nuland, however, said about EastMed, as quoted by the Associated Press: “And frankly, we don’t have 10 years, but in 10 years from now, we want to be far, far more green and far more diverse” in energy sources.

“So what we’re looking for within the hydrocarbon context are options that can get us more gas, more oil for this short transition period,” the U.S. diplomat added.   

By Charles Kennedy for Oilprice.com


More Top Reads From Oilprice.com:

Join the discussion | Back to homepage

Leave a comment
  • PCman999 _____ on April 08 2022 said:
    I don&#039;t understand why the US is involved or why the media is asking for their input? Why doesn&#039;t the article writer answer this obvious question?
    The US has also stupidly blocked the Keystone XL pipeline stopping further imports of oil from Canada, while begging Venezuela for more oil, even though they have the most carbon emissions intensive oil (yes more than the Alberta oilsands) and further emissions and real dangers would result from that oil needing to be shipped by oil tanker.
  • John Duffy on April 07 2022 said:
    This woman (idiot) is partially responsible for the current war in Ukraine. Just “wonderful” to see her now pouring cold water on this needed pipeline, and pushing Biden’s green agenda. What could go wrong, right?
  • Dan Scott on April 07 2022 said:
    Yet another foolish position from a US diplomat. I'm sure governments with all their wonderful central planning can deliver us the utopia of zero carbon world in 10 years. We won't need natural gas for power plants. Besides we want Europe pay a premium for USA LNG, rather than getting cheaper and more secure gas from Israel.

Leave a comment

EXXON Mobil -0.35
Open57.81 Trading Vol.6.96M Previous Vol.241.7B
BUY 57.15
Sell 57.00
Oilprice - The No. 1 Source for Oil & Energy News