Israel, Greece, Cyprus and Italy have agreed to build an East Mediterranean gas pipeline. The $7 billion-dollar project will lay a pipeline from Israel to Europe to supply gas to the European countries. The new project will allow for Israel to expand their energy distribution and will also minimize the need and influence from Arab countries who have been a major European oil supplier.
The EastMed pipeline will run about 2,500 kilometers in its full length, off the coast of Israel around Cyprus towards Crete, Greece and meet the Poseidon pipeline in Italy. The challenging undersea building project is predicted to take approximately five years to complete.
The project creates a healthy alliance between countries which have experienced high tension in the past, specifically between Israel, Cyprus and Greece. The new agreement will hopefully allow each country to flourish by working together, and also offer new channels to bridge the benefits of their close proximity.
What does the largest underwater network of gas hope to offer the world? The pipeline is expected to deliver 20 billion cubic meters of energy to the European countries, which in 50 years times is said to expect 100 billion cubic meters. The European Union invested $100 million to ensure the project was a possibility. The agreement is in its final stages and is set to be signed by the four governments in early 2019.
