A deal to build a 1,900 km subsea pipeline signed by Greece, Cyprus and Israel on Thursday. From the eastern Mediterranean’s rapidly developing gas fields, the pipeline will carry natural gas to Europe.
The final investment decision is expected to be reached by 2022. To help Europe diversify its energy resources, the countries predicted the pipeline will be completed by 2025.
Israel and European governments in 2019 agreed to proceed with the EastMed project. Around 10 billion cubic meters of gas per year will be carried by the pipeline.
Because the trans-Anatolian pipeline already existed, last month a Turkish official said there was no need to build the EastMed pipeline.
Some weeks before the signing of the EastMed pipeline, Libya and Turkey struck an agreement on sea boundaries in the Mediterranean, which opposed by Israel, Greece, and Cyprus.
