Energy Ministers from Cyprus, Greece and Israel will participate in a tripartite conference today in Athens. The three ministers will
Energy Ministers from Cyprus, Greece and Israel will participate in a tripartite conference today in Athens.
The three ministers will meet to discuss an intergovernmental agreement among Cyprus, Greece, Israel and Italy on the Eastern Mediterranean Gas–EMG–Pipeline project.
The 1,900 km long EMG pipeline is expected to supply 10 billion cubic metres of natural gas from Cyprus and Israel to Egypt. Three energy companies—Egypt’s East Gas, Israel’s Delek Drilling and the USA’s American Noble —have agreed to buy shares in the EMG Pipeline Company in a deal worth $15 billion.
This project falls under the EMG Forum announced on January 14, 2019 by Cyprus, Egypt, Greece, Israel, Italy, Jordan and Palestine to develop a sustainable regional gas market in accordance with international laws. Washington’s involvement in the project demonstrates the strategic vision the US sees in developing similar energy projects: diversifying Europe’s energy sources away from Moscow’s NordStream 2 and TurkStream pipelines. With the US Secretary of State for Energy Resources expected to be attending today’s meeting, note to what extent the US pledges political and economic support to the project and future initiatives.
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