Cyprus, Greece, Israel and Italy sign MoU in relation to the EastMed pipeline project

Cyprus, Greece, Israel and Italy signed on Tuesday in Nicosia a Memorandum of Understanding (MoU) on cooperation in relation to the EastMed pipeline project, and expressed their objective for an Intergovernmental Agreement within 2018.

The MoU was signed by the Energy Ministers of Cyprus, Yiorgos Lakkotrypis, of Greece, Giorgos Stathakis, of Israel, Yuval Steinitz and by the Ambassador of Italy in Cyprus, Andrea Cavallari, on behalf of the Italian Minister for Economic Development, Carlo Calend, who could not attend. The European Commission’s Deputy Director General for Energy, Christopher Jones, was also present.

The MoU was signed following the quadrilateral ministerial meeting, that took place at the conference center, in Nicosia.

In their joint statement, the three Ministers and the Ambassador note that the signing of the MoU and the quadrilateral discussions held on Tuesday confirmed our intention to cooperate in enabling and enhancing the development and the implementation of the EastMed pipeline project as a viable and strategic option and an infrastructure of special interest for gas producing states and the EU.

It is added that the project will secure a direct long-term export route from Israel and Cyprus to Greece, Italy and other European markets as an additional element of the Eastern Mediterranean Corridor, thereby strengthening EU’s security of supply, while promoting competition among gas suppliers.

In the joint statement, all four sides also express their willingness to cooperate in order to facilitate the necessary studies, the permitting, the construction and the operation of the project.

In this respect, it is noted, the Working Group consisting of the Directors General of our Energy Ministers, established by the Ministers at the Tel Aviv Ministerial Summit held on 3 April 2017, will continue to hold meetings, with the mandate to discuss, inter alia, the provisions of an Intergovernmental Agreement (IGA) between Cyprus, Greece, Israel and Italy, with the objective of signing the IGA within 2018.

Source: Cyprus News Agency