04 Dec 2017

Globes: MOU for Israel-Europe gas pipeline to be signed Tuesday

The world’s longest underwater pipeline from Leviathan to Italy will allow Israel to export gas to Europe.

A memorandum of understanding for the laying of an underwater gas pipeline from Israel to Europe will be signed on Tuesday in the Cypriot capital Nicosia, sources inform “Globes.” The world’s longest underwater pipeline will allow Israel to export gas to Europe.

The energy summit in Cyprus on Tuesday will be attended by Israel’s Minister of National Infrastructures, Energy and Water Resources Yuval Steinitz and his counterparts from Cyprus, Greece, Italy and the EU. The last such energy summit was held in Israel in April when the sides signed a declaration to move forward with the project.

Israel’s Ministry of National Infrastructures, Energy and Water Resources says that the pipeline will be 2,000 kilometers long and will be completed by 2025.

Greece based IGI Poseidon has been investigating the economic feasibility of the project with research support from the EU.

Read more here: http://www.globes.co.il/en/article-mou-for-israel-europe-gas-pipeline-to-be-signed-tuesday-1001214095