Page 12 - MEOG Week 02 2022

MEOG NEWS IN BRIEF MEOG

POLICY the pipeline were first published in Greek taking negotiations seriously enough.
media. They stand in contrast to comments in In China, Amir-Abdollahian will discuss
US voices misgivings on December 2020 by then-U.S. Energy Secretary the 25-year cooperation agreement signed
by Iran and Beijing in March last year, the
Dan Brouillette that the US would continue
EastMed gas pipeline to work with interested parties to “ensure that spokesman of the Iranian foreign ministry,
the infrastructure will be developed”.
Saeed Khatibzadeh, told a news conference in
The US has expressed misgivings on a subsea Greece, the official said, had taken note of Tehran on January 10.
pipeline designed to supply Europe with Washington’s views. The agreement, a “comprehensive strategic
natural gas from the eastern Mediterranean, “The Greek side highlighted that this partnership”, was drawn up to pave the way
Greek government sources said, in an project has been declared a ‘special project’ for a massive boost to economic and political
apparent U-turn over a project supported by by the European Union and any decision on relations. However, analysts have determined
the former Trump administration. its viability will logically have an economic it presently largely amounts to a roadmap
Washington, under the Biden impact,” the official said. that simply provides potential for billions of
administration, let its concerns be known Touted as an alternative to help ease dollars of projects.
recently, in a note sent to Greece, another Europe’s dependence on Russian gas, the The visit comes as talks remain under way
source said. 1,900-km (1,180-mile) project is expected to in Vienna between Iran and major powers to
Competing claims over gas reserves in the initially carry 10 billion cubic metres of gas a revive the 2015 nuclear deal, which restrained
eastern Mediterranean are a point of tension year to Europe. Tehran’s nuclear programme in exchange for
between Turkey and ethnically-split Cyprus. The US, the official said, believed priority the lifting of US and international sanctions.
Turkey opposes the pipeline project. should be given to interconnecting the Iranian President Ebrahim Raisi is due
Greece, Cyprus and Israel have approved electricity grids of countries in the region. to visit Russia, Khatibzadeh added, without
an agreement for the EastMed pipeline, REUTERS specifying a date.
which has been in planning for several years. BNE
The countries had aimed to reach a final Iran’s foreign minister to
investment decision this year and have the 6
billion euro ($6.82 billion) scheme completed visit China, after Oman COMPANIES
by 2025 to help Europe diversify its energy
resources. “The American side expressed to Iranian Foreign Minister Hossein Amir- East Pipes IPO bidding
the Greek side reservations as to the rationale Abdollahian is set to visit China following a
of the EastMed pipeline, (and) raised issues pit stop visit to Oman on January 10. starts, raising 6.3m shares
of its economic viability and environmental Oman often serves as an intermediary
(issues),” one source said. between Tehran and other nations in dealing East Pipes Integrated Co. has launched the
There was no immediate comment from with challenging issues. book-building period of its initial public
Israel or Turkey. “The main direction of the talks during offering on the Saudi stock exchange today,
Concerns about the financial viability this trip [to Oman] will be the study of ways the IPO book-runner said in a bourse
of the project have been heard before, but to expand relations in various political, statement. SNB Capital, as the financial
Greece, Israel and Cyprus have supported the economic and cultural spheres, as well as advisor of the offer, is in charge of handling
project. discussion of important issues in the region,” the book-building process, which will run
Ankara has repeatedly said that any plans Tehran’s Iran newspaper wrote ahead of Amir- through Jan. 17, 2022.
in the eastern Mediterranean that exclude it Abdollahian’s departure. The offer price range has been set at SR72-
were bound to fail and that it would defend Tehran has recently engaged in efforts 80 ($19-21) per share.
its rights in the region. It has also opposed the aimed at restoring relations with other states As many as 6.3 million shares will be
EastMed project, saying the plan could not of the Persian Gulf, including regional arch- offered during the period, representing 100
work without Turkey’s approval. rival Saudi Arabia. However, both Tehran and percent of the total offer.
Reports of the US having reservations over Riyadh have lately accused each other of not Each subscriber will be allowed a

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