Monday, 27 Jan 2020 - 1 of Shevat, 5780

In Athens, Israel, Greece and Cyprus sign agreement for $7 billion EastMed gas pipeline to Europe

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Israeli Prime Minister Benjamin Netanyahu: ”Just days ago, we opened the Leviathan gas field, and it is producing enormous yields. But with the exportation that will become possible via this pipeline, we will be able to provide hundreds of billions of shekels in revenue to the citizens of Israel—for their welfare, for health, for the young people and the elderly, for everyone. This is an extraordinary development.’’

ATHENS— Israel, Greece and Cyprus on Thursday signed a deal to build a 1,900-kilometer (1,180-mile) subsea pipeline to carry natural gas from the eastern Mediterranean’s gas fields to Europe.

Israeli Prime Minister Benjamin Netanyahu, Greek Prime Minister Kyriakos Mitsotakis and Cypriot President Nicos Anastasiades signed the agreement as they met in Athens for their seventh trilateral.

The deal was signed by Israeli Energy Minister Yuval Steinitz, Greek Environment and Energy Minister Konstantinos Hatzidakis  and Cypriot Energy, Commerce, Industry and Tourism Minister Georgios Lakkotrypis.

Under the agreement, Israel and Cyprus will jointly export natural gas from their offshore wells through Greece and Italy to the rest of Europe. Though Italy did not attend the summit, it is expected to sign the agreement in the near future.

“This is a historic day for Israel, because Israel is rapidly becoming an energy superpower, a country that exports energy,’’ commented Prime Miniser Netanyahu.

He added: ‘’Just days ago, we opened the Leviathan gas field, and it is producing enormous yields. But with the exportation that will become possible via this pipeline, we will be able to provide hundreds of billions of shekels in revenue to the citizens of Israel—for their welfare, for health, for the young people and the elderly, for everyone. This is an extraordinary development.’’

He also mentioned that Israel also signed a supply agreement with its Arab neighbors. ‘’This strengthens the peace, the economy and the future,’’ he said.

Netanyahu also stressed that the cooperation between Greece, Cyprus and Israel is growing stronger. ‘’This is a true alliance in the Eastern Mediterranean that is economic and political, and it adds to the security and stability of the region. Again, not against anyone, but rather for the values and to the benefit of our citizens.

 

 

 

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