Excerpt
EU nations, Israel eye world’s longest undersea gas pipeline
Italy, Israel, Greece and Cyprus pledged Monday to move ahead with the world’s longest undersea gas pipeline from the eastern Mediterranean to southern Europe, with support from the European Union. If carried out as planned, the long-discussed $6.2 billion pipeline would take gas from Israel and Cyprus’s recently discovered offshore gas reserves to Europe and could help reduce the continent’s dependence on Russian energy at a time of ongoing tensions.
In a joint news conference in the Israeli commercial capital Tel Aviv, energy ministers from the four nations, as well as the EU's Commissioner for Climate Action and Energy Miguel Arias Canete, pledged their commitment to the project.
Both Israel and Cyprus have started to extract gas from their offshore fields in recent years, with far larger fields expected to come online in the future.
Officials from the countries have sought to market the gas to Europe as an alternative to dependence on Russian imports, and Canete admitted it would help limit reliance on the Nord Stream pipeline via Russia.
All the views expressed at the source of this article may not necessarily reflect those of T.E.A. Watchers.
Click article heading to go to article source.