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Economy

EastMed Pipeline Work Group Meets in Athens

May 15, 2018
ANA

ATHENS – A work group met officially at the Environment and Energy Ministry on Monday to discuss the construction of the EastMed natural gas pipeline.

The project, connecting the Levantine Basin gas fields in the SE Mediterranean with mainland Greece, is developed by IGI Poseidon SA, a subsidiary of the Natural Gas Company (DEPA) that is 50 pct owned by Italian energy company Edison.

The meeting included representatives from Greece, Italy, Cyprus and Israel, while the European Commission sent observers.

According to a ministry announcement, all aspects of the project were extensively discussed and the work group members agreed to meet again on July 4 and 5 to promote an inter-governmental agreement on the project.

The pipeline will carry 8-14 bcm/y natural gas from Cyprus to the Ionian coast through Crete and mainland Greece. It will connect with the offshore Poseidon pipeline providing natural gas to Italy.

The EastMed is designated a Project of Common Interest and receives EU funding. In April 2017, Energy ministers of Greece, Cyprus, Italy and Israel, signed in the presence of the EU Commissioner for Climate Action & Energy a quadrilateral joint declaration to follow closely the EastMed’s development and further support its promotion.

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