Greece silently admits the death of East Med project

US State Department statement suggested that Washington has lost its interest in the EastMed gas pipeline project. [Shutterstock / cate_89]

The market and not governments decide the economic viability of energy projects, the Greek government now says a day after a US State Department statement suggested that Washington has lost its interest in the EastMed gas pipeline project.

Asked by Greek journalists about EURACTIV’s report that both the US and the Commission have been cautious toward the project, Greek government spokesman Ioannis Oikonomou replied:

“The government, from the very beginning, has supported EastMed’s venture. At the same time, however, it has supported and continues to support a number of alternative paths, which may be much more economically and technologically viable and technically feasible”.

“It is not the government that decides which solution is economically and technically feasible. This is decided by the market. In any case, what matters is that our country is not a producer. Our country is a strong transit hub, a role that will play regardless of which route is chosen,” he added. 

Oikonomou explained that Athens is backing a deal to build a large electricity cable connecting Egypt and Greece. 

Asked to comment on previous reports suggesting that Greece and Egypt are discussing the possibility of changing the route of East-Med gas pipeline, something that irritated Nicosia as it was bypassed, Oikonomou said: 

“All those pipelines that may be technically and financially viable are considered. Cyprus also has its own alternative agreements.”

(EURACTIV.gr)

Subscribe to our newsletters

Subscribe