Financial feasibility study will show whether the EastMed gas pipeline is attainable

Cyprus Foreign Minister, Ioannis Kasoulides, has said that a financial feasibility study will show whether the EastMed gas pipeline is attainable.

Asked by the Cyprus News Agency (CNA) to comment on media reports about the EastMed and the US stance towards the project, Kasoulides said that “if the results of the financial feasibility study are positive then we will look into the other issues. If not, the EastMed is not attainable.”

Invited to comment on the fact that Nautical Geo research vessel has been harassed by a Turkish frigate in Cyprus’ Exclusive Economic Zone, the Foreign Minister said that there was indeed harassment that cannot remain without a response. “We cannot say that it does not matter, and for this reason, all necessary representations will be made,” he added.

As regards the EastMed pipeline, Kasoulides said that when the decision about it was taken “it was subject to a positive financial feasibility study.”

He noted that this is a project that requires a huge investment, and certainly only if the EastMed would be self-financed its implementation could proceed.”

The Foreign Minister said that the European Commission undertook to finance the feasibility study, adding that “we are now expecting the results of the feasibility study and if they are positive then we will proceed to look into the other issues. If not, the EastMed is not attainable.”

Asked if they are concerned by statements made on the issue by the US and the position outlined by Amos Hochstein, the Special Envoy and Coordinator for International Energy Affairs, who leads the Bureau of Energy Resources at the US Department of State, Kasoulides replied: “No, we are not concerned for the simple reason that what Hochstein is now saying, we were saying as well since the decision was taken to have a financial feasibility study.”

“If there was no financial feasibility then we all know the project would not proceed,” he added.

Invited to say if he does not consider then, that high expectations were created for this project, the Foreign Minister said that “if high expectations were created, this was not because of our side.”

“In democracies, this is inevitable when elections are due to be held. And we did not have elections,” he added.

Discussion at the UN Security Council

Asked about the discussion taking place on Monday at the UN Security Council on the UN Secretary General’s reports about his Good Offices Mission and the UN peacekeeping force in Cyprus (UNFICYP), Kasoulides said that “we did not have any surprises in the draft resolution (for the renewal of UNFICYP’s mandate), that would make it unacceptable or negative. We have some comments that the Permanent Representation (of the Republic of Cyprus) will forward, in the usual way first of all to the penholder, who is the British Representative, and to the remaining permanent members of the Security Council.”

Books of condolences for David Sassoli

Kasoulides made the statements at the European Parliament`s Office in Nicosia, where he signed the condolences book for the death of President of the European Parliament, David Sassoli.

The Foreign Minister wrote in the book: "I am deeply saddened by the loss of the President of the European Parliament, David Sassoli, a visionary of modernizing the European Parliament, a staunch defender of the European values. Cyprus has lost a true friend, Europe has lost a true European. I extend but sincerest condolences to his family and close friends, as well as to the entire European Parliament."

Cyprus has been divided since 1974, when Turkey invaded and occupied its northern third. Repeated rounds of UN-led peace talks have so far failed to yield results. The latest round of negotiations, in July 2017 at the Swiss resort of Crans-Montana ended inconclusively.