With the verb "explained", Ioannis Kasoulides described the discussion he had with the US Secretary of State on the East Med pipeline. And as reported, there was indeed an explanatory clarification during the meeting the two had in Washington at noon (local time) on Tuesday.
According to Anthony Blinken's statement, what is mentioned in the State Department's internal document on the pipeline is attributed to data and calculations done on the economic viability of the project and the environmental impact. This is not far from the position expressed from the outset by all the parties involved, who have stressed at every stage of the preparatory work that the construction of the pipeline depends on the economic data that will apply when an investment decision is taken. As they said, "the investors will have the final say."
It should be noted that the internal document criticises and expresses strong concern about Turkey's behaviour in the region. Moves that the US condemns at every opportunity.
Steps and signs
Since the IHS CERA study showed promising prospects (it confirmed in 2016 the economic competitiveness of the project), the Governments of Cyprus Greece Israel Italy decided in 2016 to prepare the ground at the political level. This is why they proceeded to sign agreements, so that the project can be implemented when the conditions are ripe.
The logic of cooperation is reflected in the Memorandum of Understanding signed by the energy ministers of the four countries in December 2017 in Nicosia. The agreement expressed the intention to cooperate "to enable and enhance the development and implementation of the EastMed Pipeline Project, as a viable and strategic option, as well as an infrastructure of special interest for both gas producing countries and the EU", according to a Joint Statement.
Similar messages were sent in January 2020 when the Cyprus-Greece-Israel Intergovernmental Agreement was signed in Athens.
Similar messages were sent in January 2020 when the Cyprus-Greece-Israel Intergovernmental Agreement was signed in Athens. The parties had reiterated that they were paving the way for investors to take over the implementation of the project.
This was preceded by the preliminary studies of the managing company YNGF Poseidon, according to which "the project brings together the most economic and political advantages for the transport of natural gas from the Eastern Mediterranean to Europe".
At the same time, the British Financial Times reported that the aim was for the project to meet 10% of Europe's gas needs from discoveries in the Eastern Mediterranean region.
The facts began to turn around when international gas prices began to take a serious up and down turn. Coupled with the planet's changing course on environmental issues and the "shift" to renewables. These factors now indicate that the project is not a viable option, but nothing has yet been finalised. Certainly not for political reasons or because it causes... upheaval in Turkey.
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