EastMed, intergovernmental memorandum signed
Meeting in Nicosia with representatives of Italy, Greece, Cyprus and Israel
The intergovernmental memorandum of understanding for the EastMed project, a 1,300 km long pipeline, from Eastern Mediterranean to Europe via Cyprus and Greece, has been stipulated. As agreed at the EastMed Energy Summit held in Tel Aviv last April, the memorandum was signed in the capital city of Cyprus on Tuesday by Ministers for Energy of Israel, Yuval Steinitz, Greece, Giorgos Stathakis, Cyprus, Yiorgos Lakkotrypis, and Italian Ambassador to Cyprus, Andrea Cavallari, with the aim of “favoring development and execution of EastMed, a “practicable and strategic” project.
The memorandum, explains a joint declaration, reaffirms the readiness of four countries to cooperate in order to facilitate studies, permit-granting procedures as well as the completion and management of the gas pipeline. For this purpose, the technical committee consisting of general directors at the ministries in charge of energy, the establishment of which was agreed in Tel Aviv, will continue to meet to discuss, among others, the terms of the intergovernmental agreement between Cyprus, Greece, Israel and Italy so that it could be signed by next year.
EastMed, for which the final investment decision should be made by 2020 and its first gas should be transmitted by 2025, has been included into the new NES and the European Projects of Common Interest.
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06 December 2017 - 17:31 CET