Eastern-Mediterranean deal imminent

Posted by Christian J. Hadjipateras 09/05/2018 3 Comment(s) Economia Blog,

The leaders of Greece, Cyprus and Israel met in the Cypriot capital of Nicosia yesterday (Tuesday) to agree on a signed deal by the end of the year for the construction of the Eastern-Mediterranean pipeline that will supply Europe with gas from the region.

 

Greek PM Alexis Tspiras, Cypriot President Nicos Anastasiades and Israeli PM Benjamin Netanyahu held a joint press conference and spoke of their optimism of the imminent deal and the significance it will bring.

 

The 2000km pipeline will transfer between 9-12bn cubic metres annually from the offshore gas reserves in the Levantine Basin (Cyprus and Israel) to Greece and, in conjunction with the Poseidon and IGB pipelines, to Italy and other Southeast European countries.

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