Cyril Widdershoven
The growing regional energy cooperation between Israel, Cyprus and Greece has been given another boost this week.
During the 5th trilateral summit, Israel’s PM Benjamin Netanyahu, Cypriot President Nicos Anastasiades and Greek PM Alexis Tsipras stated in the Israeli city of Beersheva that they will sign an agreement early 2019 to start the construction of an offshore East Mediterranean gas pipeline to Europe.
As indicated before, the $7 bln pipeline will compete with Russian pipeline gas exports to European markets in a move to quell the growing Russian stranglehold.
The commercial and financial viability of the project will be studied further during the upcoming feasibility study, partly financed by the EU, which has pledged $100 million already.
The growing regional energy cooperation between Israel, Cyprus and Greece has been given another boost this week.
During the 5th trilateral summit, Israel’s PM Benjamin Netanyahu, Cypriot President Nicos Anastasiades and Greek PM Alexis Tsipras stated in the Israeli city of Beersheva that they will sign an agreement early 2019 to start the construction of an offshore East Mediterranean gas pipeline to Europe.
As indicated before, the $7 bln pipeline will compete with Russian pipeline gas exports to European markets in a move to quell the growing Russian stranglehold.
The commercial and financial viability of the project will be studied further during the upcoming feasibility study, partly financed by the EU, which has pledged $100 million already.


















