Israel reached an agreement with Italy, Greece and Cyprus to supply gas to Europe that will involve the construction of the submarine pipeline called EastMed, which will be the deepest and longest in the world with 2,000 kilometers in length, reported the Israeli digital media Mako.co. .il.
After two years of negotiations, the agreement reached, with the support of the European Union (EU), will be presented next week to its member states, and it is expected that the work to build the infrastructure will begin in the coming months.
The gas pipeline will connect Israel's gas reserves with the European continent and will pass through Cyprus, Greece and Italy, with a depth of 3.5 kilometers.
Gas is expected to flow to Europe in about five years, when the pipeline works are finished, and among the clauses highlighted in the agreement, Israel and Cyprus will have priority in exporting this resource to the European market.
The EU, according to Mako.co.il, agreed to invest 100 million dollars in a project feasibility study before the understanding was reached.
Before the pact, the Israeli Minister of Energy, Yuval Steinitz, declared for the same means that the export of Israeli gas to Europe "will moderate the Arab influence" on the continent due to oil and gas, "and will be a counterweight to its power "
Steinitz, together with his counterparts from Greece and Cyprus and a representative from Italy, signed a memorandum of understanding in Nicosia in December 2017 for the cooperation of the four countries in the construction of the EastMed gas pipeline.
Last May, the Cypriot President, Nikos Anastasiadis, and the Prime Ministers of Israel, Benjamin Netanyahu, and of Greece, Alexis Tsipras, reaffirmed their commitment in a trilateral summit focused mainly on energy issues that was held in Nicosia.
Israel and Cyprus discovered natural gas in their respective economic zones, and it is considered that their exploitation can modify the energy and geopolitical map of the region.