East Med Oil Gas – East Mediterranean Oil Gas – Easter Mediterranean

East Med Oil Gas - East Mediterranean Oil Gas Domain For Sale

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The Eastern Mediterranean pipeline or simply East Med – East Med Oil Gas is a planned offshore/onshore natural gas pipeline, directly connecting East Mediterranean energy resources to mainland Greece via Cyprus and Crete.The project, currently in design, will transport natural gas from the off-shore gas reserves in the Levantine Basin into Greece, and in conjunction with the Poseidon and IGB pipelines into Italy and other European regions. The pipeline will have a length of approximately 1,900 km, reach depths of 3km, and have a capacity of 10 billion cubic meters per year.Construction of the pipeline is expected to be cost approximately €6 billion (US$6.86 billion).The pipeline is being developed by IGI Poseidon S.A., a 50-50% joint venture between the Greek gas utility DEPA and the Italian gas utility Edison.

On 2 January 2020, the East Med Pipeline accord was signed in Athens by the leaders of Greece, Cyprus, and Israel.On 19 July 2020, the Israeli government officially approved the accord, allowing the signatory countries to move forward with plans to complete the pipeline by 2025. East Med Oil Gas

Source: Wikipedia