Italy, Israel, Greece and Cyprus pledged Monday to move ahead with the world’s longest undersea gas pipeline from the eastern Mediterranean to southern Europe, with support from the European Union.
If carried out as planned, the long-discussed $6.2 billion pipeline would take gas from Israel and Cyprus’s recently discovered offshore gas reserves to Europe and could help reduce the continent’s dependence on Russian energy at a time of ongoing tensions.
In a joint news conference in the Israeli commercial capital Tel Aviv, energy ministers from the four nations, as well as the EU’s Commissioner for Climate Action and Energy Miguel Arias Canete, pledged their commitment to the project.
Feasibility studies had been completed, the ministers said, but work on developing it would not begin for several years – with current expectations for it to go online in 2025…. read more