The Greek government referred to the intergovernmental agreement for the construction of the Eastern Mediterranean (EastMed) gas pipeline, as a “Peace and Cooperation Plan in the South-Eastern Mediterranean”. The agreement will be signed today in Athens by Greece, Cyprus and Israel.
The East-Med pipeline will transfer gas from Eastern Mediterranean deposits to the European Natural Gas Energy System, via Cyprus, Greece and Italy.
It is a pipeline of enormous geopolitical and geostrategic importance as it increases gas supplies to Europe and makes Greece an energy hub in the Southeast Mediterranean.
The pipeline is 1,872 km long (1,335 km submarine and 537 km terrestrial) and can transport 10 billion cubic meters of natural gas annually, with the potential to double the amount later.
The agreement will sign the Greek Minister of Environment and Energy Kostis Hatzidakis with his Israeli and Cypriot counterparts Yuval Steinitz and George Lakkotrypis respectively.