Israel's Yuval Steinitz to ANA: Decisions on East Med Pipeline in December
Friday, 30 September 2016
A decision on the viability of the East Med pipeline will be taken when the leaders of Greece, Cyprus and Israel hold a summit meeting in Jerusalem in December, Israeli Minister of Infrastructure, Energy and Water Resources Yuval Steinitz said in statements to the Athens-Macedonian News Agency (ANA) on Thursday.
He said that Israel considers "the construction of this pipeline to be the strongest, long-term strategic choice," given that the project also has the support of the European Union, which will be involved in financing the studies, since the pipeline fits in with European energy security policy.
"Greece will become an important corridor, either toward the Balkans or toward Italy," Steinitz pointed out, emphasising the strategic value of the pipeline. He noted that Israel had already discovered gas fields containing 900 billion cubic metres (bcm) in its economic zone, while Cyprus' Aphrodite field contained 150 bcm known deposits with significant prospects for more.