> The United States is no longer supporting the construction of EastMed gas pipeline project as Washington’s interest is now switching to renewable energy sources
Has Greece tried saying that the Gas is Green yet?
The plan was overly costly from the beginning, but the US support for the project was politically and strategically significant, as it validated its support for the greek claims that there is an excusive economic zone border with cyprus. So, to that extent the deal achieved its purpose. OTOH they don’t know how the gas prices will move, they might even make the project profitable.
Well the only Greeks who fume are some nationalists and leftists who like to bash on the US. The sane observers have maintained a healthy amount of scepticism on the proposed pipeline, questioning its financial sustainability. The current American policy aims at discontinuing natural gas domestically and promotes renewables, so it is expected that they will follow a similar line on their foreign policy. However, the US isn’t the only big player on the board and it wasn’t eager to finance the project anyway. The EU can fund the investment if it sees it as beneficial for European energy security. Also, if gas prices remain high it will be profitable for the interested countries to invest on their own. In any case, the Eurasian Interconnector will be of greater significance as the region moves towards 100% renewable energy generation.
>The United States continues to strongly support regional efforts that enhance and promote cooperation and regional stability, including the 3+1 mechanism in which the Republic of Cyprus (ROC), Greece, Israel, + the United States participate.
>We remain committed to physically interconnecting East Med energy to Europe.
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> The United States is no longer supporting the construction of EastMed gas pipeline project as Washington’s interest is now switching to renewable energy sources
Has Greece tried saying that the Gas is Green yet?
The plan was overly costly from the beginning, but the US support for the project was politically and strategically significant, as it validated its support for the greek claims that there is an excusive economic zone border with cyprus. So, to that extent the deal achieved its purpose. OTOH they don’t know how the gas prices will move, they might even make the project profitable.
[You posted an article about the same subject just yesterday](https://www.reddit.com/r/europe/comments/s1nlkw/us_quietly_ditches_greeces_eastmed_pipeline/?utm_medium=android_app&utm_source=share) and didn’t get the response you expected. Do you expect something different now?
Well the only Greeks who fume are some nationalists and leftists who like to bash on the US. The sane observers have maintained a healthy amount of scepticism on the proposed pipeline, questioning its financial sustainability. The current American policy aims at discontinuing natural gas domestically and promotes renewables, so it is expected that they will follow a similar line on their foreign policy. However, the US isn’t the only big player on the board and it wasn’t eager to finance the project anyway. The EU can fund the investment if it sees it as beneficial for European energy security. Also, if gas prices remain high it will be profitable for the interested countries to invest on their own. In any case, the Eurasian Interconnector will be of greater significance as the region moves towards 100% renewable energy generation.
Reposting from yesterday’s thread:
>The U.S. embassy in Athens denied
>https://gr.usembassy.gov/statement-on-east-med-energy-cooperation/
>The United States continues to strongly support regional efforts that enhance and promote cooperation and regional stability, including the 3+1 mechanism in which the Republic of Cyprus (ROC), Greece, Israel, + the United States participate.
>We remain committed to physically interconnecting East Med energy to Europe.