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European Dependence on Russian Gas Revives Debate on EastMed Pipeline

(JNS) David Isaac - With the EU rethinking its energy policy after Russia's invasion of Ukraine, Israeli voices have called for restarting the EastMed pipeline to link Israel's extensive offshore natural-gas reserves with Europe. "The war has made it clear to everybody the risks entailed for the West in continuing to depend on Russian gas," Dore Gold, president of the Jerusalem Center for Public Affairs and former Israeli Ambassador to the UN, told JNS. Gold noted that the eastern Mediterranean as a whole, including Israel, "has immense gas reserves...estimated to be roughly equivalent to 76 years of gas consumption by the EU." Gold added that turning away from natural gas to embrace only renewables is "untenable." "You have to take into account what are the long-term interests of your allies." Gold said that when he was director-general of Israel's Ministry of Foreign Affairs, he was asked by then-Prime Minister Benjamin Netanyahu to study the issue of Israel's natural-gas reserves. "Energy is part of national security. I think this war in Ukraine has demonstrated that more than anything," he said. "If the price of Russian gas goes down because of a new supply situation, the amount of money Russia has to fund its defense budget and its war in Ukraine will also drop. This is the most sensible strategy to pursue."
2022-03-17 00:00:00
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