Israel Signs off on EastMed Pipe Deal
The Israeli government announced on July 19 that it had ratified an agreement with Greece and Cyprus on building the EastMed gas pipeline.
The planned 1,900-km pipeline will pump up to 10bn m3/yr of gas from fields off the Levant basin off Israel and Cyprus to Greece and elsewhere in southern Europe.
Israel, Cyprus and Greece reached an intergovernmental agreement on EastMed's construction in January. Israel is the last of three to ratify the deal. The countries aim to take a final investment decision on the €6bn ($6.9bn) project in 2022, and launch gas supplies three years later.