East Mediterranean gas developers may end up prioritising exports to Turkey over other options, despite an agreement struck last week between Greece, Cyprus and Israel to look into the feasibility of a pipeline to Europe.
Alongside talk of a pipeline to Greece, much has been made of the possibility of exporting either Cypriot or Israeli gas to Egypt – either for domestic use or for further export as LNG. However, that option is beginning to look less favourable because of production timelines and the cost of transporting the gas. Consequently, momentum is now moving towards gas exports to Turkey.
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