Source: Times of Israel
Greece, Italy, and Cyprus have reached an agreement with Israel to lay a pipeline connecting the Jewish state’s gas reserves to the three countries, in a major project estimated at costing over $7 billion that will supply gas from the eastern Mediterranean to Europe, as the continent seeks to diversify its energy supply.
According to Hadashot TV, the European Union agreed to invest $100 million in a feasibility study for the project before the agreement was reached over the laying of the longest and deepest underwater gas pipeline in the world.
As part of the agreement, Israel and Cyprus will be granted preference over other countries in exporting gas to the European market, according to the report.
Read more at: https://www.timesofisrael.com/israel-cyprus-greece-italy-said-to-agree-on-east-med-gas-pipeline-to-europe/