Did the United States dump the EastMed pipeline?
The United States said it has shifted its energy "focus" in the eastern Mediterranean to electrical interconnectors. And the EastMed pipeline? All the details
The United States confirmed its commitment to facilities for transporting energy from the eastern Mediterranean to continental Europe. But – it is specified in a statement from the American embassy in Greece – they are "shifting" their "focus" towards interconnectors for electricity, "which can support both gas and renewable energy sources".
EUROAFRICA AND EUROASIA
Washington specifically mentions the EuroAfrica interconnectors (which connects the electricity grids of Greece, Cyprus and Egypt) and EuroAsia (between Greece, Cyprus and Israel). He defines them as projects that, in addition to linking "fundamental energy markets", will help the region "prepare" for the transition to clean energy, ie zero-emission sources of greenhouse gases.
THE IMPORTANCE OF INTERCONNECTORS
The interconnections between the grids facilitate the exchanges of electricity and make it possible to improve the overall resistance of the systems, especially when renewables will occupy increasingly significant shares in the energy mixes of the states and the grids must be able to manage the intermittency of these sources. The possibility of drawing on the electricity surpluses of neighboring nations, therefore, will help to satisfy individual energy needs.
AND EASTMED?
Joe Biden's United States, therefore, seem less willing to offer support to EastMed, the pipeline that would connect the gas fields in the eastern Mediterranean to Greece, then allowing it to reach Italy and the continent through the existing pipes. European. Turkey is opposed to EastMed, because the project would reduce its role as an energy intermediary between Europe and the Middle East.
GREECE'S RESPONSE
Several media outlets in Greece, Euractiv reports, judge the choice of the United States as a gift to Ankara.
The spokesman for the Greek government, Ioannis Oikonomou, instead made more calm comments. He said Athens did offer support to EastMed, but also considered more technically feasible and cheaper alternative infrastructures. “Our country”, he added, “is not a producer, but it is an important transit hub. A role that he will have regardless of the itinerary that will be chosen ".
AN OVERVALUED INFRASTRUCTURE?
Beyond the American move, EastMed was already judged by experts to be a less extraordinary work than what was advertised. The main reason is the high costs of the fuel it will transport.
It is true that the pipeline would allow the European Union to diversify its sources of supply, but already today there are more economically advantageous alternatives ( Russian gas by pipes or American liquefied gas by ship). In a context of energy transition – which should cause gas consumption to contract in the long term -, however, only the cheapest supplies will be able to remain on the market.
Brussels could then focus on Egyptian LNG: the option could satisfy Italy, given that the plant in the city of Damietta is partly owned by Eni.
This is a machine translation from Italian language of a post published on Start Magazine at the URL https://www.startmag.it/energia/stati-uniti-eastmed-interconnettori-grecia/ on Tue, 11 Jan 2022 14:08:57 +0000.