A proposed pipeline to deliver natural gas from deposits in the east Mediterranean to European markets is too expensive, not economically viable and will take too long to help countries seeking alternatives to Russian gas any time soon, a senior U.S. diplomat said Thursday.
U.S. Under Secretary of State Victoria Nuland said after talks with Cypriot President Nicos Anastasiades that countries in the region have understood that dependence on Russian oil and gas is “an extremely bad bet” following its invasion of Ukraine.
But she said the proposed East Med pipeline project wouldn’t be able to immediately deliver the gas Europe now needs to swiftly wean itself of Russian energy because it would run in very deep water and construction would take more than a decade.
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