Bloomberg: Israel Pushing EU to Invest in Pipeline Through Cyprus

Israel is lobbying the European Union to decide next week on investing in a pipeline from its Mediterranean gas fields to Cyprus that would provide a new alternative to Russian energy supplies.

Silvan Shalom, Israel’s regional development minister, has promoted the project to EU energy ministers, as well as with Greece, Cyprus and Italy. The energy ministers, who meet next week in Brussels, could issue a memorandum of understanding backing the project, which Israel also sees as a way to improve ties with Europe.

“It’s good for them, it’s good for us,” Shalom said in a Dec. 1 interview. “They will have a reliable source, we will have good relations with them. We can provide the gas, and the best way they can have it and I believe at the cheapest price.”
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