EUROPE - Israeli Gas Pipeline Talks Revive

Arno Froese

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 at the CERAWeek energy conference.

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. They aim to complete the €6 billion ($6.54 b.) project by 2025, but no financing has been secured for it as of yet.

The EastMed pipeline is not the only new energy initiative being developed in Israel. The European Union committed €657 million ($716 m.) to connect the electricity networks of Cyprus and Greece in January, which was panned as the first step in forming the EuroAsia interconnector—which will eventually link the power grids of Israel, Cyprus, Greece and Europe. Further, the Karish gas field will connect to the Israel National Gas Line, the CEO announced in March., 8 March 2022

Arno's Commentary

Europe’s energy shortage presents an excellent opportunity for Israel to make up at least some.

Energy prices have risen quickly after Russia’s invasion of Ukraine and subsequent sanctions by world powers. A Google search reveals that Russia has the world’s largest natural gas reserves, with 24.3% of the world’s share, followed by Iran at 17.3%, Qatar 12.3%, and the USA 5.3%.

We are reminded of the prophecy in Isaiah 60:5: “Then thou shalt see, and flow together, and thine heart shall fear, and be enlarged; because the abundance of the sea shall be converted unto thee, the forces of the Gentiles shall come unto thee.”

Arno Froese is the executive director of Midnight Call Ministries and editor-in-chief of the acclaimed prophetic magazines Midnight Call and News From Israel. He has authored a number of well-received books, and has sponsored many prophecy conferences in the U.S., Canada, and Israel. His extensive travels have contributed to his keen insight into Bible prophecy, as he sees it from an international perspective.

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