Israel to host EastMed Energy Summit
By Trend
Israel will hold the ministerial EastMed Energy Summit on April 3, according to the information posted on the European Commission’s website.
The event will be attended by energy ministers from Israel, Greece, Cyprus and Italy, as well as the European Commissioner for Climate Action and Energy Miguel Arias Canete to discuss the potential of gas supply from the eastern Mediterranean region for Europe.
The Eastern Mediterranean (EastMed) pipeline project relates to an offshore/onshore natural gas pipeline, directly connecting East Mediterranean resources to Greece via Cyprus and Crete.
The project is being currently designed to transport up to 16 billion cubic meters of gas per year from the off-shore gas reserves in the Levantine Basin (Cyprus and Israel) as well as from the potential gas reserves in Greece.
Earlier, senior officials from Italy, Greece, Cyprus and Israel agreed to advance talks on a pipeline from Israel to Europe after an EU-sponsored study showed the project would be very feasible.
The study showed the pipeline, which would traverse Cyprus and Greece before reaching Italy, would cost about 5 billion euros ($5.5 billion).
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