Israel approves agreement with Cyprus and Greece on the EastMed gas pipeline

The government of Israel has approved a framework agreement with Greece and Cyprus for the construction of the Eastern Mediterranean gas pipeline (EastMed pipeline), to which Italy is also expected to join.

The Israeli Cabinet approved the agreement on the gas pipeline on July 19. The document must be approved by the country’s regulatory authorities, after which the Knesset will finally accept it. Yuval Steinitz, the Jewish state’s energy Minister, called the agreement’s approval “a historic milestone in Israel’s transformation into an energy-exporting country”.

Parliamentarians of Cyprus and Greece have already ratified the agreement on the construction of the gas pipeline.

EastMed pipeline is to start supplying energy from the Leviathan field in Israel and the Aphrodite field in Cyprus via the Islands of Cyprus and Crete in Greece. It is assumed that the gas can be brought to Italy. The 1,900 km long gas pipeline will be laid underwater (1,300 km) and on land (600 km). Construction will take about seven years and cost about $ 7 billion.

Greece, Israel, and Cyprus signed an agreement on the EastMed gas pipeline on January 2.