UNITED STATES (OBSERVATORY NEWS) — The EastMed gas pipeline agreement between Greece, Israel and Cyprus is signed in Athens.
“We just signed an agreement on the EastMed gas pipeline. This is the crown of new geopolitical partnerships between Greece, Cyprus and Israel. They have been systematically lining up in recent years, forming a new energy hub in the Eastern Mediterranean, ”said Greek Prime Minister Kyriakos Mitsotakis.
He noted that it will be one of the largest gas pipelines in the world. According to him, the project will become a contribution to the world and to geopolitical stability.
The agreement was signed by the Minister of Environment and Energy of Greece, Kostis Hatzidakis, the Minister of Energy of Israel, Yuval Steinitz, and the Minister of Energy, Trade and Industry of Cyprus, Georgios Lakkotripis.
EastMed will connect Greece, Cyprus and Israel with the south of Europe, its length will be 1.9 thousand km, investment in construction is estimated at € 6 billion.
Design capacity is 10 billion cubic meters. m of gas annually. In addition, an additional 1 billion cubic meters. m will ensure domestic consumption in Cyprus.
It is expected that the pipeline can work in 2024–2025.
According to DW , the European Union at the end of 2015 granted the pipeline the status of a “Common Interest Project” (PCI) and has already paid 2 million euros for a feasibility study.
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