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Journal: The Journal CONTEMPORARY ECONOMY (Vol.5, No. 2)

Publication Date:

Authors : ;

Page : 27-35

Keywords : natural gas; pipeline; supplies; economic development.;

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Regardless of whether it is possible to implement the East Med project eventually under current conditions, in the foreseeable future a new outstanding actor is expected to appear either way in the international gas arena. Accordingly it' shard to imagine that this technologically advanced country would miss the opportunity of becoming an exporter. Moreover this situation promises the country not only financial benefits but also geopolitical advantages in a pretty disturbed region. “Bets” were placed on “traditional” pipeline gas but not on LNG. Consequently the EU market is the most obvious option for precise orientation. Moreover this option is supported politically and financially by the Union itself which is also encouraged by the US known as the most important ally of Israel. On the other hand Greece playing an important role currently in the East Med project highly needs foreign investments and new workplaces particularly in industrial sectors for European loans to the country. Several developed countries including the founding members of the EU were interested in economic prosperity of this member of Eurozone. In this sense they have been saving Greece from bankruptcy for a longtime and the country has been overcoming the decade-long economic crisis with great difficulty.

Last modified: 2022-12-27 21:40:17