Israel-Greece-Cyprus energy deal ‘top priority’ this year - JNS

March 28, 2024 / JNS
Etgar Lefkovits 

The three allies plan to link their electrical grids and cooperate on natural gas.

Finalizing a major energy deal that includes connecting the power grids of Israel, Greece and Cyprus and a possible future regional natural gas pipeline linking the eastern Mediterranean allies is a “top priority” for 2024, the Israeli and Cypriot energy ministers said on Wednesday.

The long-awaited accord, which was stalled by the nearly six-month-old war with Hamas in Gaza, will not include Turkey. Ankara has reemerged as one of Israel’s bitterest critics in the wake of the Israeli military campaign triggered by the Oct. 7 terrorist invasion.

The expected agreement comes amid burgeoning relations with both Cyprus and Greece, which have maintained support for Israel throughout the war, and close ties in a variety of fields including energy, defense, tourism, high-tech and cybersecurity.

“Cyprus is a regional ally, and cooperation in the field of energy holds great potential opportunities for both countries,” Israeli Energy Minister Eli Cohen said Wednesday as he hosted his Cypriot counterpart to finalize the accord.

Cypriot Minister of Energy, Commerce and Industry George Papanastasiou said, “Cyprus and Israel share a vision for the eastern Mediterranean with the countries looking at energy as a sector that can facilitate peace, stability and prosperity in the region.”

EU keeps EastMed gas pipeline on new list of priority projects - REUTERS

November 28, 2023
Francesca Landini

MILAN, Nov 28 (Reuters) - The European Commission has maintained a proposed pipeline connecting the gas reserves in the Eastern Mediterranean to Greece via Cyprus and Crete on its new list of Projects of Common Interest (PCI) published on Tuesday.

Projects included in the PCI list have access to a fast-track permitting process and special funding.

Energy group Edison (EDNn.MI) and Greece's DEPA International Projects are the sponsors of the project through their joint venture IGI Poseidon.

The joint venture has still to take a final investment decision (FID) on the pipeline, which would connect several gas fields in the Eastern Mediterranean, including some in offshore Israel, to Greece.

EastMed pipeline project still viable, Edison CEO says - REUTERS

July 7, 20232:13 PM GMT+3

ROME, July 7 (Reuters) - A project to build a 2,000 km pipeline to bring natural gas from East Mediterranean fields to Europe is still alive, the CEO of Italian energy group Edison (EDNn.MI) said on Friday.

Edison CEO Nicola Monti said that the group, which is one of the promoters of the pipeline, was actively talking with Cyprus and Israel about the project.

Last month, the energy minister of Cyprus told Reuters the country was proposing a shorter pipeline to bring gas from Israel's East Mediterranean fields to the island where the gas could be partially liquefied to be transported to the European markets.

Cyprus changes tack with plan for Mediterranean gas link to Israel - REUTERS

June 21, 20235:22 AM GMT+3
Michele Kambas

• Cyprus wants shorter gas pipeline to Israel
• Part of broader project to get EastMed gas to Europe fast
• New Cyprus government talking to Israel on plans
• Longer pipeline through Med 'challenging'

NICOSIA, June 20 (Reuters) - Cyprus hopes to develop plans for a pipeline linking it to Israel's east Mediterranean gas fields during talks which start next month, the island's top energy official told Reuters.

Proposals by the new centrist Cypriot government, which came to power in March, represent a markedly different approach to its predecessors in getting gas to Europe and other markets.

Cyprus Wants Shipping Corridor to Export Mediterranean Gas to Europe - OFFSHORE ENGINEER

May 29, 2023

Michele Kambas

Cyprus wants to establish itself as a gateway from east Mediterranean gas resources to Europe via a shipping corridor of LNG carriers, its president said on Monday. 

Cyprus's new centrist government, which came to power in February, has cooled to the idea championed by its predecessors of an "EastMed" pipeline transferring gas to Europe.

Instead, authorities now want to transport, via pipeline, natural gas from fields in the eastern Mediterranean to the island for use in domestic conventional power generation, with an additional LNG facility to process for European markets, President Nikos Christodoulides said.

Minister: 2 major gas companies keen on Israel-Cyprus plan for pipeline, gas processing facility - THE ASSOCIATED PRESS

May 16, 2023
MENELAOS HADJICOSTIS

NICOSIA, Cyprus (AP) — Two major international oil and gas companies have so far expressed interest in Israeli-Cypriot plans to build a pipeline that would convey offshore natural gas from both countries to Cyprus where it would be liquefied for export by ship, a Cypriot official said Tuesday.

Energy Minister Giorgos Papanastasiou told The Associated Press in an interview that the plan will be pitched on May 29 to energy companies involved in hydrocarbon exploration off Cyprus’ southern coast and other firms involved in pipeline and gas processing plant manufacture.

Edison sees investment decision on EastMed gas pipeline by year-end - REUTERS

March 20, 20238:06 AM GMT+2

Francesca Landini

Edison's logo is seen outside the company headquarters in downtown Milan, Italy, January 14, 2016. REUTERS/Stefano Rellandini

MILAN, March 20 (Reuters) - Energy group Edison (EDNn.MI) plans to take the final investment decision on a proposed pipeline to deliver east Mediterranean gas to European markets by the end of this year, the Italian project developer told Reuters.

The EastMed-Poseidon pipeline, which would initially connect several gas fields offshore Israel to Italy and have an annual capacity of 10 billion cubic metres (bcm) of gas, could be ready by 2027, Edison said.

The project, supported by Israel, Cyprus and Greece, would guarantee alternative supplies for Europe, which is weaning itself off of Russian piped gas. In addition, it would better connect Cyprus to its EU partners.

Oil and gas group Energean calls for east Mediterranean investment boom - FINANCIAL TIMES

14/11/2022
Tom Wilson in London

The chief executive of a London-listed oil and gas company recently threatened by Hizbollah has called for more investment in the energy potential of the eastern Mediterranean after a landmark maritime deal between Lebanon and Israel.

Mathios Rigas, whose Energean delivered the first gas from Israel’s Karish field last month, said the US-brokered agreement, following years of on-off negotiations between the sworn enemies, offered a “new model” for the resolution of border disputes in the contested region.

The deal does not constitute a peace agreement between the two countries, which still do not recognise each other’s governments, but allows for the exploitation of the area’s hydrocarbons while border negotiations continue.

New Italian govt aims to double national gas production - REUTERS

October 27, 202211:27 AM GMT+3

MILAN, Oct 27 (Reuters) - Italy plans to double its national gas production to 6 billion cubic meters (bcm) per year from the current 3 bcm, its industry minister said, in a further effort to cut the country's dependence on Russian supplies.

"One of our goals is to develop a plan that will make us as quickly as possible less dependent and will then turn us into the energy hub of the Mediterranean", Industry Minister Adolfo Urso told Il Messaggero daily in an interview published on Thursday.

The government will also authorise new offshore drilling in the Adriatic sea, he said, echoing the words of Italy's new Prime Minister Giorgia Meloni, who said this week that Rome "has a duty to fully exploit" its offshore gas reserves to diversify energy sources.

DNV further confirms feasibility and maturity of the EastMed pipeline - DNV

13 June 2022

On 10 June, 2022, DNV issued confirmation of the Feasibility Statement of the Eastern Mediterranean Deepwater Pipeline (EastMed), a 2000 km long onshore and offshore natural gas conduit project meant to connect offshore gas reserves from the Levantine Basin to Greece via Cyprus, and further to southeastern European countries in conjunction with Poseidon and Greece-Bulgaria interconnection (IGB) pipelines.

The current design envisions a 1400 km offshore and 600 km onshore pipeline, with an initial capacity of about 10 billion m3 of gas each year; the maximum water depth reached, for a short section of around 10 km, is 3000 m, in line with other ultradeep-water pipelines already installed in other parts of the world.

The unique context of this project in the Eastern Mediterranean region helps countries with coal- and heavy crude oil-reliant energy systems transition to the cleaner source that is natural gas to reach their net-zero targets and strengthen their energy security.

In particular, the EastMed Project, developed by IGI Poseidon S.A., is meant to respond to the specific needs of regions such as Cyprus or some part of Greece, which are not tightly connected to the continent’s energy system and whose economies rely heavily on energy-intensive users like marine tankers and international aviation. It would also allow countries like Bulgaria to diversify their supplies and increase their energy security.

The US should link eastern Mediterranean gas to Europe to subvert Russia - THE HILL

MARCH/15/22 12:00 PM EDT

Nicholas Saidel, Godfrey Garner 

The Biden administration should pause its hyper-focus on renewable energy and support efforts to prevent Russian energy blackmail against our European allies. The European Union (EU) has declared it will cut reliance on Russian gas by two-thirds. If the U.S. is serious about energy security in Europe, it must help ensure that eastern Mediterranean natural gas makes it to Europe’s shores.

In late January, President Biden took the opposite route, surprising Greece, Israel and Cyprus — the regional entities in the U.S.-sponsored “3+1” cooperation framework — by withdrawing support for the EastMed Pipeline, an unfunded, multibillion-dollar concept conceived in 2016 that would have brought eastern Mediterranean gas to Europe via an underground pipeline. Biden cited climate change and economic viability concerns, both arguably reasonable positions at the time. However, considering Russia’s war in Ukraine and its downstream effects, Biden must show flexibility and adapt his natural gas policy.

Gas from the eastern Mediterranean could diversify Europe’s energy portfolio. Israel alone has approximately 2.2 trillion cubic meters of gas awaiting discovery. While it wouldn’t satisfy all of Europe’s needs, it would help to offset Russian gas imports. NATO countries such as Germany, Italy and Turkey could benefit from new suppliers, especially since German Chancellor Olaf Scholz has halted the Nord Stream 2 pipeline project that would have increased the country’s reliance on Russian gas. Like Germany, Italy is seeking alternative sources.

Chevron CEO says Israel gas pipeline could supply Europe amid crisis - THE JERUSALEM POST

MARCH 8, 2022 13:00
BEN ZION GAD, REUTERS 

Europe's natural gas shortage, which has pushed prices to multi-year highs, has revived talk of the EastMed pipeline – a Mediterranean Sea pipeline that could carry gas from Israel to European customers, Chevron Chief Executive Michael Wirth said on Monday at the CERAWeek energy conference.

Wirth downplayed concerns over global oil supplies amid the ongoing Russia-Ukraine war and the subsequent potential for an energy crisis.

The EastMed pipeline, meant to transfer natural gas from Israeli waters to Europe via Greece and Cyprus, was announced in 2016, and several agreements have been signed between the three countries on the subject. They aim to complete the €6 billion ($6.54 b.) project by 2025, but no financing has been secured for it as of yet.

EastMed: The US just stated the obvious - CYPRUS MAIL

January 16, 2022

Dr Charles Ellinas

• EastMed never was viable and technically it stretched the limits
• The world has moved on and it’s time we did too

The news last Monday that the US State Department finally abandoned the EastMed gas pipeline should not have come as a surprise – the US stated the obvious. Sadly, instead of this announcement attracting the openminded response it deserves, much of the publicity in the Greek and Cypriot press has been negative and in cases demeaning, preferring to conjure conspiracies behind it, rather than doing the obvious and simple thing: taking it at face value.

But these responses will not detract from the fact that the future is in clean energy and electricity interconnections, that facilitate electrical stability and wider adoption of renewables in a region that has the potential and can really benefit from transition to clean energy – and not in gas exports. That is exactly what I have been advocating for years now.

U.S. voices misgivings on EastMed gas pipeline -Greek officials - FINANCIAL POST / REUTERS

Jan 11, 2022

ATHENS — The United States has expressed misgivings on a subsea pipeline designed to supply Europe with natural gas from the eastern Mediterranean, Greek government sources said, in an apparent U-turn over a project supported by the Trump administration.

Washington let its concerns be known recently, in a note sent to Greece, another source said.

Competing claims over gas reserves in the eastern Mediterranean are a point of tension between Turkey and ethnically-split Cyprus. Turkey opposes the pipeline project.

Greece, Cyprus and Israel have approved an agreement for the EastMed pipeline, which has been in planning for several years. The countries had aimed to reach a final investment decision this year and have the 6 billion euro scheme completed by 2025 to help Europe diversify its energy resources.

Greek-Italian venture signs agreement with Israel on Eastmed gas pipeline scheme - REUTERS

ATHENS, March 9 (Reuters) - Greek-Italian gas joint venture IGI Poseidon said on Tuesday it had signed an agreement with the Israel Natural Gas Lines Company to cooperate on building facilities to connect Israel to a planned gas pipeline in the eastern Mediterranean.

Greece, Cyprus and Israel last year signed a deal to build the Eastmed gas pipeline, which has been in the planning for several years and seeks to transport gas from offshore Israel and Cyprus to Greece and on to Italy to help Europe diversify its energy resources. IGI Poseidon, a joint venture between Greece’s state-owned gas utility DEPA and Italy’s Edison, said the agreement with the Israeli company, which updates a 2019 memorandum of understanding, aims to connect the Eastmed project to the Israeli transmission system and facilitate gas flows from the eastern Mediterranean to Italy and Europe, via Cyprus.

EastMed gas pipeline to go through Egypt? - CYPRUS MAIL

March 5, 2021
Dr. Charles Ellinas

The Greek and Cypriot press abounds with news and denials that a new plan has emerged for the much-talked about EastMed gas pipeline. The Greek newspaper Vema claimed that the Greek Prime Minister Kyriacos Mitsotakis, and Egyptian President Egyptian President Abdel-Fattah El-Sisi discussed recently a new plan that will involve a change of route for the pipeline.

Instead of going to Cyprus, it would go from the Israeli gas-field Leviathan straight to Egypt. From there it would continue on land to the Egyptian-Libyan border, from where it would be routed subsea to Crete passing through the recently delineated Greek-Egyptian EEZs, and then through Greece to Europe. This would strengthen Egypt’s hand in becoming the regional gas hub.

Such a development would leave Cyprus in limbo and with diminished influence, hence explaining Nicosia’s strong response to the news.

There is already in place an inter-governmental agreement signed in January 2020 by the Israeli Prime Minister Benjamin Netanyahu, Cypriot President Nicos Anastasiades and Mitsotakis – but not Italy – approving the EastMed pipeline based on the original concept, to go from Israel through Cyprus, to Crete and to mainland Greece and from there to Italy.

Israel is Diving Into the Troubled Eastern Mediterranean - BLOOMBERG

July 26, 2020, 8:00 AM GMT+3

Seth J. Frantzman

The Israeli cabinet last week approved a pipeline deal to move gas offshore via Cyprus to Greece and Europe. The 1,900-kilometer (1,181 miles) link will connect gas fields in the Eastern Mediterranean basin to European markets. The $6 billion project, many years in the discussion, was boosted in January by an agreement signed in Athens between Israeli Prime Minister Benjamin Netanyahu and his Greek and Cypriot counterparts.

The EastMed project puts Israel on a collision course with Turkey. Ankara has laid claim, reinforced with a maritime deal with Libya, to large parts of the Eastern Mediterranean, where it is exploring for gas—and conducting naval exercises. These moves are exacerbating tensions with Greece.

Israel Approves Natural Gas Pipeline Link to Europe - BLOOMBERG

July 19, 2020, 2:20 PM GMT+3Alisa Odenheimer

Israel’s cabinet approved a multinational accord to lay a pipeline that will facilitate the export to Europe of natural gas found in Israeli and Cypriot waters.

The $6 billion plan, formulated by the energy ministers of Israel, Cyprus, Greece and Italy, is for a 1,900-kilometer (1,181 miles) corridor that will link known and yet-to-be-discovered gas fields in the eastern Mediterranean basin with European markets through Cyprus, Greece and Italy. A survey of the route is currently being performed, with the aim of reaching a final investment decision within two years and completing the project by 2025.

The project has created friction with Turkey, which says it deprives Turkish Cypriots living in a breakaway state in northern Cyprus of proceeds from the island’s natural resources (Note: The north of Cyprus, always 100% or majority Christian, was 90% Christian before the Turkish invasion of 1974, now 100% Muslim also amid rampant colonization from mainland Turkey).

Cyprus parliament ratifies EastMed pipeline agreement - KATHIMERINI

FRIDAY JULY 17, 2020, 16:08

Cyprus’ House of Representatives ratified on Friday the EastMed natural gas pipeline.

The agreement, which was ratified by legislators with 47 votes in favor and two abstentions, provides for the construction of a system of pipelines for the transport of natural gas from the Eastern Mediterranean to supply European markets.

The intergovernmental agreement for the construction of the EastMed natural gas pipeline was signed on January 2 in Athens between Greek Environment and Energy Minister Kostis Hadzidakis, Cypriot Energy Minister Yiorgos Lakkotrypis and Israeli Energy Minister Yuval Steiniz.

Greece and Italy sign ‘historic’ maritime borders accord - KATHIMERINI

TUESDAY JUNE 9, 2020, 13:27

Greek Foreign Minister Nikos Dendias and his Italian counterpart Luigi Di Maio on Tuesday inked a maritime borders agreement delimiting an exclusive economic zone (EEZ) between the two countries.

The agreement, which was signed by the two foreign ministers during a visit by Di Maio to Athens and is an extension of a 1977 accord, paves the way for Greece and Italy to explore for and exploit marine resources.

It also paves the way for Greece to reach a similar deal with neighboring Albania.

“The delimitation of maritime zones with all of our neighbors in the context of international law is a consistent objective for this country,” Dendias said in comments after signing the agreement.