The Energy, Commerce and Industry Minister of Cyprus, recently shared that Israel and Cyprus have agreed to build a natural gas pipeline for natural gas transport from Israel to Cyprus. As per reports, Israel and Cyprus have discovered extensive natural gas fields in their adjoining EEZs in the eastern Mediterranean and the pipeline would be the first practical step towards transferring gas to Europe. 

May 16, 2023

The Energy, Commerce and Industry Minister of Cyprus, Mr. Giorgos Papanastasiou has shared that Israel and Cyprus have agreed on the construction of a natural gas pipeline for the transport of natural gas from Israel to Cyprus. Mr. Papanastasiou added that he will be traveling to Israel to discuss details and prepare a final agreement with his Israeli counterpart.

Also Read: Iraq Allocates USD 417 Million for Its 3rd Offshore Oil Export Pipeline

As per reports, Israel and Cyprus have both discovered extensive natural gas fields in their adjoining EEZs in the eastern Mediterranean and the pipeline would be the first practical step towards transferring gas to Europe. Mr. Papanastasiou shared that he will discuss the speedy resolution of an issue arising from a partial Israeli claim on a Cypriot gas deposit adjoining an Israeli gas field and the promotion of the construction of a gas pipe from the Israeli gas fields to a liquefaction plant in Cyprus. He added that part of the gas will be used for the production of cleaner and cheaper electricity and the rest will be turned into liquid form at a liquefaction plant for export to Europe. “What comes first in the current phase is the signing of an agreement between the two states, which will allow the building of a pipeline that will connect the Exclusive Economic Zones of the two countries. We’ll start from there,” Mr. Papanastasiou said.