Cyprus, Israel to Sign Agreements on Natural Gas Pipeline

SEATTLE (Oil Monster): Several energy companies have reportedly expressed interest in building natural gas pipeline between Israeli gas fields and Cyprus. The announcement was made by Giorgos Papanastasiou, Cyprus’ Energy Minister, after the two-day workshop held in Nicosia, which saw participation by several leading companies in the pipeline construction and the energy exploration sectors in the region.

According to the Minister, several companies that own gas fields in Israel's Exclusive Economic Zone (EEZ) to the southeast of Cyprus have expressed interest in selling gas for electricity production in Cyprus and for liquefaction and export purposes. An official announcement regarding this will be made immediately after the two counties sign an agreement.

Papanastasiou will visit Israel on 14th and 15th of June, 2023, during which the deal is expected to be signed. As per current plans, Israeli gas is expected to reach Cyprus within 2.5 years. The proposed gas pipeline from Israel is expected to link Cypriot gas fields in the area. Moreover, the project will deliver a virtual pipeline from Israel to Europe through Cyprus, which will act as an alternative to the proposed EastMed pipeline linking the eastern Mediterranean gas fields with Europe.

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