The Israeli Cabinet Approved The Agreement With Cyprus And Greece On The EastMed Gas Pipeline
The government of Israel approved the framework agreement of the Jewish state, Greece, and Cyprus for the construction of the Eastern Mediterranean gas pipeline (EastMed pipeline), which was signed by the Ministers of the three countries on January 2 in Athens and provides for the accession of Italy to the project, according to Haaretz.
According to the newspaper, the Israeli Cabinet approved the agreement on the pipeline at a weekly meeting on July 19. Now the document must be approved by the country's regulatory authorities before final approval in the Knesset (Parliament). Yuval Steinitz, the energy Minister of the Jewish state, whose statements are quoted by Haaretz, called the approval by the country's Cabinet of the agreement on the Eastern Mediterranean gas pipeline "a historic milestone in the transformation of Israel into an energy-exporting country."
Parliamentarians of the Republic of Cyprus ratified the agreement on the construction of the gas pipeline on July 17 after it was approved by the government of the island state at the end of May. The Greek Parliament ratified the document on May 14.
It is assumed that the EastMed pipeline will allow the start of energy supplies from the Israeli Leviathan field and the Cyprus Aphrodite field through the Islands of Cyprus and Crete to the mainland of Greece and possibly bring gas to Italy. The construction of this 1,900 km long gas pipeline, of which 1,300 km will be laid underwater and 600 km on land, will take about seven years and will cost about $7 billion. The design capacity is 10 billion cubic meters of gas annually.
The agreement on the construction of the Eastern Mediterranean gas pipeline was signed on January 2, 2020, in Athens by three parties: Greece, Cyprus, and Israel. It is believed that the project is also supported by Italy, but Rome has not yet signed the agreement.