Borrell: The East Med study is expected to be completed despite US objections

The EU’s East Med study is expected to be finalized in order to reach a final decision, despite US objections, said Josep Borrell, the Union’s High Representative for Foreign Affairs and Security Policy, in response to a question from its Vice President. EC, Eva Kailis.

Asked if the East Med pipeline was in danger of being abandoned, Kaili said the United States had recently withdrawn its political support for the project, which would improve Europe’s energy security by diversifying its roads, especially its sources. its supply of natural gas, as well as by providing opportunities for economic development in the Eastern Mediterranean region.

Mr Borrell spoke on behalf of the Commission on East Med, referring to the EU’s overall plan to decouple Russian fossil fuels.

More specifically, Josep Borrell stressed that the project implementer has received funding from the “Connecting Europe” mechanism for the required feasibility study, which, however, has not been completed. Consequently, no decision can yet be made on financial investments. At the same time, he stressed that the commercial viability of the pipeline, depending on the percentage of its contribution to the achievement of the objectives of the European Green Deal, will judge the feasibility of the project.

Regarding the EU’s energy independence plan from Russia, Mr. Borel referred to the REPowerEU plan, which sets as a strategic goal to make the EU independent of Russian minerals by 2030.

He noted that after the Russian invasion of Ukraine, the arguments in favor of a rapid transition to clean energy are stronger than ever. “The sooner the EU diversifies its energy supply and accelerates the transition to green energy, the sooner it can be disconnected from Russian fossil fuels,” he said. It is also necessary to accelerate imports of liquefied natural gas through pipelines from non-Russian suppliers.

Source: AMPE