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Monday, 24 November 2014

Israel Wants To End Europe's Dependence On Russian Gas With This New Pipeline

Israel Wants To End Europe's Dependence On Russian Gas With This New Pipeline
Israel has proposed that EU countries invest in a multi-billion euro pipeline to carry its natural gas to the continent, noting that the supply from Israel would reduce Europe’s current dependence on natural gas from Russia.
A proposal for the “massive” project was introduced by Israel’s Energy Minister Silvan Shalom to energy ministers from Euro-Mediterranean countries who met in Rome earlier this week, Israel’s Channel 2 reported on Thursday.
It said the project would require a multi-billion euro investment from Europe to build a pipeline from Israel’s Mediterranean coast to Cyprus, from where the gas would be carried on to Greece and Italy.
The TV report said Cyprus, Greece and Italy were all supportive of the idea, and that Israel would make a formal presentation of the project to European representatives in Brussels in three weeks’ time.

It would be cheaper for Europe to work on a supply route with Egypt, but this could expose the Europeans to instability because of the unpredictable political developments in Egypt, the report noted. Similarly, a pipeline from Israel to Turkey would be less expensive, but bilateral relations rule this out so long as Recep Tayyip Erdogan, a prominent critic of Israel, holds power there.

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