NICOSIA, April 7 — Building an East Mediterranean gas pipeline to Europe as an alternative to Russian energy would be too expensive and take too long to build, a senior US diplomat said today.
The three states aimed to complete the €6 billion project by 2025, but no financing has been secured. “We believe it is too expensive, not economically viable and will take too long,” Nuland said, after meeting Cypriot President Nicos Anastasiades. “So what we are looking for within the hydrocarbon context are options that can get us more gas, more oil for this short transition period.”Nuland said there was a need to search for alternative supplies to avoid dependence on Russian energy after Moscow invaded Ukraine.
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