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The EU allocated 34,5 million euros to find another alternative to Russian gas

The EU allocated 34,5 million euros to find another alternative to Russian gas

01.02.2018
Tags: EU, Gas, Economy, Israel, Cyprus, Greece, Italy

34,5 million euros allocated the European Commission for the development of a plan for the construction of a gas pipeline from Israeli and Cypriot gas fields to the shores of Greece and Italy. According to European companies, this is an excellent opportunity to create an alternative to Russian blue fuel. This Israeli media reported 30 January 2018

The gas pipeline plan, called EastMed ("Eastern Mediterranean"), should be completed in 2019 d, after which the European Union will make a final decision whether it is worth investing in its laying and further operation.

At the moment, the daughter of the French energy company Edison - Poseidon - is conducting a study of the technical feasibility and profitability of the project.

The Europeans themselves support the project because they are interested in diversifying gas sources and reducing dependence on Moscow.

There are assumptions that the laying of the pipeline may begin as early as 2021.

But before that, a number of serious technical and economic obstacles must be solved.

On the technical side, the situation is as follows:

  • pipes to be laid at great depth (in places 3,3 km);
  • between Cyprus and Greece there is a seismically active zone (ie frequent strong earthquakes);
  • how to repair damaged by an earthquake pipes at 3-kilometer depth - is unclear.

The economic side is even more embarrassing:

  • Israel can bid for gas a little cheaper than the Russian supply, but to justify multi-billion investment, the difference should be much more palpable.
  • the new gas pipeline will not allow Europe to free itself from Russian dependence, because the Cyprus-Israel gas pipeline will deliver to the continent a maximum of 10 billion m3 / year, and this is only the 20 part of Russian blue fuel.

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