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    Greece, Cyprus, Israel Sign EastMed Deal


The deal was signed on January 2 in Athens.

by: Shardul Sharma

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Greece, Cyprus, Israel Sign EastMed Deal

Greece, Cyprus, and Israel have signed an agreement to construct the 1,900-km, 10bn m³/yr gas pipeline that will carry natural gas from the eastern Mediterranean to Europe, various media reports said January 3. NGW reported January 2 that Greek gas supplier Depa announced some hours ahead of the meeting it had signed a letter of intent with Energean to buy 2bn m³/yr.  

The deal was signed on January 2 in Athens by Greek prime minister Kyriakos Mitsotakis, Israeli prime minister Benjamin Netanyahu, and Cypriot president Nikos Anastasiades. Turkey however is objecting to the project, saying it does not have the right to use the proposed route.

The Eastern Mediterranean pipeline or EastMed will carry gas from the Leviathan and Aphrodite gas fields in the eastern Mediterranean to Europe. The three governments will next put the project out for bids from private investors, media reports stated.