ENERGY

Cyprus and the EastMed are a ‘midterm choices’ for the EU

Cyprus and the EastMed are a ‘midterm choices’ for the EU

The choice of the Eastern Mediterranean in terms of energy deposits in Cyprus and the EastMed pipeline is a more medium-term choice for the European Union, as it will take time to implement the necessary investments, Cypriot Minister of Energy, Trade and Industry Natasa Pilides said on Wednesday.

Invited to comment on reports that global energy developments may bring the project concerning the EastMed pipeline back to the fore, Pilides said that “we certainly hope that the development of the Aphrodite deposit and the other deposits in Cyprus will come to the fore, which can be an alternative source of energy supply in the EU and in other markets.”

She added that “whether the EastMed pipeline will be built will definitely depend on the confirmed quantities available for export,” noting that “at the moment the Cypriot confirmed deposits are not enough, but if there is interest from Israel, then EastMed could definitely be an option.”

Asked about EastMed’s sustainability study, Pilides said the data have not changed. “The implementing body has until year-end to complete the sustainability studies and make the final investment decision,” she said.