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Greece, Israel, Cyprus push East Med pipeline to Europe

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Meeting in Thessaloniki, Greek Prime Minister Alexis Tsipras, Israeli Prime Minister Benjamin Netanyahu and Cyprus President Nicos Anastasiades agreed on June 15 to boost regional energy cooperation in particular to speed up joint action for the construction of the East Med pipeline, reported New Europe (Belgium).

The €6-billion pipeline is designed to transfer recently discovered energy reserves in the eastern Mediterranean region to Europe.

“The discovery of significant reserves of natural gas in Cyprus and Israel, Greece’s strategy to become an energy hub in the region, and the possible existence of new reserves in the exclusive economic zones of Cyprus, Israel but also Greece offer extremely interesting prospects for this cooperation,” Greek newspaper Kathimerini quoted Tsipras as saying in Thessaloniki, Greece’s second-largest city.

He added that the cooperation would also contribute to stability in the broader region.

For his part, Netanyahu promised to promote East Med pipeline plans. “It’s something we’re very excited about,” Netanyahu said. “Of course the idea of the East Med pipeline would be a revolution. We’ve had preliminary studies of it. It seems promising and we’re going to look further,” AP quoted him as saying.

Greece and Israel are also planning an undersea electricity cable link. The Euro Asia Interconnector, a €3-billion cable, would connect the electricity grids of Greece, Cyprus and Israel.

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Reporter: Denes Osvalt
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Category: Politics, Business
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