Deal agreed for EastMed undersea gas pipeline to Europe

The race for offshore energy deposits in the southern Mediterranean has created tensions between Greece and Cyprus, on the one side, and rival Turkey. Ankara has raised the stakes with claims to areas under Greek control. (AFP)
Short Url
  • The 1,900 km EastMed pipeline has a budget of $6 billion

ATHENS: The leaders of Greece, Israel and Cyprus met in Athens on Thursday to sign a deal for an undersea pipeline that would carry gas from new offshore deposits in the southeastern Mediterranean to continental Europe.

The 1,900 km EastMed pipeline is intended to provide an alternative gas source for energy-hungry Europe, which is currently largely dependent on supplies from Russia and the Caucasus region.

As now designed, the pipeline would run from Israel鈥檚 Levantine Basin offshore gas reserves to Cyprus, Crete and the Greek mainland. An overland pipeline to northwestern Greece and another planned undersea pipeline would carry the gas to Italy.

The project, with a rough budget of $6 billion, is expected to satisfy about 10 percent of the EU鈥檚 natural gas needs. But it also is fraught with political and logistical complexities.

The race to claim offshore energy deposits in the southern Mediterranean has created new tensions between Greece and Cyprus, on the one side, and historic rival Turkey.

Ankara has raised the stakes with recent moves to explore waters controlled by the two EU member countries. Cyprus and Greece are particularly disturbed Turkey sent warship-escorted drill ships into waters where Cyprus has exclusive economic rights.

Cypriot President Nicos Anastasiades said the EastMed pipeline, while not aimed against Turkey, affirms that Greece and Cyprus hold sovereign rights to the waters they control.

Anastasiades, Greek Prime Minister Kyriakos Mitsotakis and Israeli Prime Minister Benjamin Netanyahu were to meet in Athens to sign an agreement on building the pipeline.

Before departing for the Greek capital, Netanyahu said the three countries have established 鈥漚n alliance of great importance鈥� that would bolster regional stability and turn Israel 鈥漣nto an energy powerhouse.鈥�

Israeli Energy Minister Yuval Steinitz has said the EastMed pipeline would take up to seven years to build and that its advantages include being less vulnerable to sabotage and not crossing many national borders to reach markets.

Anastasiades said in an New Year鈥檚 Day interview with Cyprus鈥� Phileleftheros newspaper that the construction agreement鈥檚 signing 鈥渟ends messages in every direction.鈥�

鈥淓specially under current conditions, it demonstrates the strong political will of the countries involved, as well as the European Union, that they don鈥檛 accept Turkey鈥檚 unlawful actions,鈥� Anastasiades said.

Cyprus is divided into a Greek Cypriot south, where the island nation鈥檚 internationally recognized government is located, and a breakaway Turkish Cypriot north backed by Turkey. The split followed a 1974 Turkish invasion after an aborted coup aiming to bring Cyprus under Greek rule.

Turkey is also laying claim to large tracts under Greek control in the Aegean Sea and off the Greek island of Crete.

Turkish President Recep Tayyip Erdogan has said that no project can proceed without his country鈥檚 consent following a maritime border agreement that Ankara signed with the Libya鈥檚 Tripoli-based government.

The Cypriot government has licensed Italian energy company Eni, France鈥檚 Total, ExxonMobil and Texas-based Noble Energy to carry out exploratory hydrocarbons drilling in the country鈥檚 offshore economic zone.