Israel has reached an agreement for building a gas pipeline to Europe by 2025

28 Nov, 2018

After two years of negotiations, Israel, Cyprus, Greece and Italy have reached an agreement of building the longest undersea gas pipeline in the world, reports the Globes. The gas will be exported from Israel to Europe by this pipeline. The final agreement is scheduled to be signed in February 2019.

A gas pipeline with a length of over 2 thousand km will be laid along the seabed of the Mediterranean Sea. Initially, it will reach Cyprus, then Crete and then the pipeline will reach Italy via Greece. The capacity of the pipeline will be up to 20 billion cubic meters per year. The cost of its construction is estimated to reach €6 billion. The gas pipeline construction is planned to be completed by 2025.

As it became known to “Ъ”, the Gazprom has finally decided that the continuation of the Turkish Stream will be built not through Greece and Southern Italy, but through Bulgaria, Serbia and Hungary. This option will allow the Russian company to cease a transit through Ukraine starting 2022.

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