Cyprus and Israel are currently engaged in discussions regarding the construction of a pipeline that would connect their respective offshore gas fields, as revealed by George Papanastasiou, Cyprus’ minister of energy, on Monday.
Cyprus-Israel pipeline: a solution in 18 months according to Papanastasiou
However, Papanastasiou seems to downplay the chances of the proposed“EastMed” pipeline, which would transport gas from the eastern Mediterranean to continental Europe. Instead, it suggests the creation of a maritime corridor from a hub in Cyprus, allowing the transport of liquefied gas.
Papanastasiou emphasizes that the main objective is to achieve low-cost power generation, focusing on the region’s natural gas supply. After briefing an opposition party on the new administration’s energy plans, Papanastasiou told reporters that a workshop with industry players is scheduled for May 29 in Cyprus. He also revealed that the construction of a liquefaction plant would take about 2.5 years, while a pipeline connecting Cyprus and Israel would require about 18 months.
Negotiations continue: the future of natural gas in the region at stake
For a decade, plans to build a 2,000-kilometer (1,243-mile) pipeline to carry gas from the eastern Mediterranean to Europe have been under discussion. The project had the potential to receive partial funding from the European Union. However, the initiative suffered a setback in early 2022, when the United States withdrew its previous support, citing high costs and extended construction times as reasons for its decision.
Papanastasiou proposes an alternative solution, suggesting that instead of a traditional pipeline, a connection between Israel and Europe could be established via Cyprus. This “corridor” would allow the transportation of liquefied gas and could potentially serve as a virtual pipeline. Papanastasiou insists that liquefied gas could be shipped from Cyprus to any market, including Asia.
Although the prospects for the EastMed pipeline may have faded, the ongoing negotiations between Cyprus and Israel demonstrate a commitment to exploring viable alternatives for the efficient transportation of natural gas from the Eastern Mediterranean region. As discussions continue and stakeholders gather for the upcoming workshop, the focus is on achieving cost-effective power generation while harnessing the potential of liquefied gas transportation.
