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MoU signed for EastMed pipeline

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World Pipelines,

On 5 December, Greece, Cyprus, Israel and Italy signed a Memorandum of Understanding (MoU) for the co-operation and construction of the EastMed pipeline.

The 2000 km EastMed underwater pipeline will transport natural gas from the Leviathan field in Israel and the Cypriot Aphrodite field to European markets.

Yiorgos Lakkotrypis, Cypriot Energy Minister, stated at the ceremony: “We have concluded a very significant milestone, which is the signing of a MoU, which outlines the political commitment of the four countries to pursue this project.”

All countries noted that they would be co-operating to facilitate studies, permitting, construction and operation of the pipeline.

At the signing, Greece’s Giorgos Stathakis said: “We are taking a major step forward in a project that Greece supported right from the beginning, considering it to be strategically very important for Europe.”

The project has an anticipated completion date of 2025.

Next, an intergovernmental agreement will be signed in 2018 in Crete.

The joint statement concluded: "The Working Group consisting of the Directors General of our Energy Ministers, established by the Ministers at the Tel Aviv Ministerial Summit held on 3 April 2017, will continue to hold meetings, with the mandate to discuss, inter alia, the provisions of an intergovernmental agreement between Cyprus, Greece, Israel and Italy, with the objective of signing the IGA within 2018.”

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