The energy ministers of Israel, Cyprus, Greece and Italy have declared their support for a 1,900 km subsea pipeline project that would connect gas fields in the East Mediterranean with Greece and Italy, providing Europe with a new source of supply by 2025.
The ministers met in Tel Aviv on Monday and were joined by European commissioner for climate action and energy Miguel Arias Cañete. The EC has declared the EastMed Gas Pipeline a project of common interest (PCI) and provided funding for a pre-feed study that determined the pipeline was technically and economically feasible at a cost of under USD 6 billion.
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