EastMed gas pipeline 1,300-kilometer, the longest in the world from Israel passing through Cyprus, Crete, Greece, and from there to Italy
Updated: Energy Minister Giorgos Lakkotrypis is in Tel Aviv where he will participate in a meeting with energy ministers from Greece, Israel and Italy about the EastMed gas pipeline.
1,300-kilometer undersea gas pipeline, the longest in the world, from the area of the Leviathan reservoir, passing through the Cypriot gas reservoirs, Cyprus, Crete, Greece, and from there to Italy. An initial survey estimated the cost of the undersea segment of a pipeline with an annual capacity of 12-16 BCM at $5.7 billion. As in the case of the Nord Stream, it is possible that if additional large scale gas fields are discovered in Israel and Cyprus, it will be worthwhile laying two parallel pipelines capable of transporting 30 BCM of gas a year.
Jointly declare that:
– The parties support the establishment of the Eastern Mediterranean as another corridor for gas supplies to Europe.
– The EastMed Pipeline Project, while complementing other export options under assessment, represents a strategic priority for exporting into Europe part of the current gas reserves of the Eastern Mediterranean Region;
– The Parties will support the East-Med Pipeline development activities and to this extent will support the IGI Poseidon application for the obtainment of EU funding under Connecting European Facility program;
– The Parties will also reinforce their cooperation, forming a quadri-lateral working group with the aim to monitor and support the development of the EastMed Pipeline Project and to identify terms of a necessary Intergovernmental Agreement to expedite project realization.
– The parties endorse the working group report dated 30 March 2017, regarding the East Med pipeline, submitted to Commissioner Canete.
— Georgios Lakkotrypis (@GLakkotrypis) April 3, 2017