Summary

In January 2020, Greece, the Republic of Cyprus and Israel signed an agreement to construct the EastMed pipeline, a 1900-kilometer undersea pipeline designed to transport gas from the offshore deposits in the Leviathan field of the southeastern Mediterranean to continental Europe. Designed as Project of Common Interest (PCI) by European Commission since 2013, this pipeline aims to diversify the EU’s energy source, potentially reducing reliance on Russian gas. While progress had stalled, the Russian invasion of Ukraine reignited hopes for its construction. Nonetheless, the United States raised doubts about its viability and distanced itself from what it reportedly labeled a “contentious energy scheme”.

Our report aims to assess the prospects of the EastMed pipeline, drawing insights from the energy security scenario analysis by the World Energy Council, Shell, and the Clingendael Institute. Beginning with background information on the project’s geological aspects, EU-driven regulatory framework, key stakeholders, and estimated costs, we’ll craft scenarios around three central storylines: 1) Market and Institutions, focusing on stable geopolitics and regional cooperation, 2) Regions and Empires, emphasizing Geopolitical Tensions, and, 3) Environmental Challenges.