Israel, Italy, Greece and Cyprus pledged on Monday to push ahead with the project to extend the world’s longest undersea gas pipeline, which will extend 2,000 kilometers east of the Mediterranean Sea to southern Europe, with the support of the European Union at a cost of $ 6.2 billion.
When finished, the project will be able to transfer gas from the newly discovered fields in Israel and Cyprus to Europe, and will reduce the dependence of the European continent on Russian energy at a time of tension and relations between these two parties.
The energy ministers of the four countries pledged at a press conference held in Tel Aviv lately. The project’s feasibility studies have been completed, but construction work will not begin before some years to pass and will be able to transport gas by 2025. “This will be the longest and deepest underwater gas pipeline in the world,” says Energy Minister Yuval Steinitz. Israel and Cyprus have begun to extract gas from their offshore fields in recent years, and work is expected to start with larger gas fields in the future. The two ccountries are trying to market gas to Europe as an alternative to dependence on Russian imports. The project will help reduce reliance on the Nord Stream gas pipeline from Russia, which may do little to the security of supply in Europe. It is worth mentioning that this pipeline has the support of all members of the European Union.