Europe’s natural gas shortage, which has pushed prices to multi-year highs, has revived talk of the EastMed pipeline – a Mediterranean Sea pipeline that could carry gas from Israel to European customers, Chevron Chief Executive Michael Wirth said on Monday at the CERAWeek energy conference.
Wirth downplayed concerns over global oil supplies amid the ongoing Russia-Ukraine war and the subsequent potential for an energy crisis.
The EastMed pipeline, meant to transfer natural gas from Israeli waters to Europe via Greece and Cyprus, was announced in 2016, and several agreements have been signed between the three countries on the subject. The three states aimed to complete the €6 billion project by 2025, but no financing has been secured for it.
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