INTERNATIONAL NEWS

Four Countries Partner On $7bn Eastern Mediterranean Gas Pipeline System

Four countries have agreed to support construction of the EastMed gas pipeline in the Eastern Mediterranean Sea, according to Reuters.
Italy, Greece, Cyprus, and Israel are reportedly backing the project, involving installation of a 1,900-km long offshore/onshore pipeline to take gas from fields in the Levantine basin to countries in southeast Europe, at a cost of up to $7 billion.
The report added that the four countries would cooperate to facilitate studies, permits, construction and operation of the project, and aimed to sign an inter-governmental agreement in 2018.
Gas would be supplied from fields offshore Israel and the Aphrodite field offshore southern Cyprus and any other future discoveries in these regions.
According to Athens-based IGI Poseidon, a joint venture between Greece’s DEPA and Italy’s Edison, the EastMed line is designed to transport an initial 10 bcm/yr to Greece and, in conjunction with the Poseidon and IGB pipelines, also supply Italy and other southeast European countries.
In addition, it would supply an additional 1 bcm/yr to the Cypriot market.
The pipeline would run for 1,300 km offshore and 600 km overland, and would comprise the following sections: 200-km offshore pipeline from Eastern Mediterranean sources to Cyprus, 700 km offshore pipeline connecting Cyprus to Crete, 400-km offshore pipeline from Crete to mainland Greece, 600-km onshore pipeline crossing Peloponnese and western Greece.
EastMed would have exit points in Cyprus, Crete and mainland Greece, and a connection point with the Poseidon pipeline.

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