Study finds EastMed pipeline viable and technically feasible
The EastMed pipeline is commercially viable and technically feasible, a study presented on Monday in Brussels to the EU Directorate-General for Energy along with the Energy Ministries of Greece, Cyprus, Israel, and Italy said.
According to the study conducted by EDISON, the estimated cost of EastMed is 6 billion dollars (5.57 billion euros).
CNA learnt that after the presentation of the study, there was a discussion between the delegations of the four countries with the European Commission.
The discussion was held in order to prepare the meeting of the Energy Ministers of the four countries and the EU Energy Commissioner Miguel Arias Canete, scheduled for next May in Israel.
According to the presentation of the company, the EastMed pipeline, which will transfer Cypriot and Israeli natural gas, will be starting from the deposits of the Levantine.
The study added that the pipeline will be headed offshore in Cyprus, where a gas compression station will be located.
Following the phase in Cyprus, the gas will then be transferred to the Greek island of Crete, where another compressions station will be located.
Natural gas will then move to the Peloponnese area of Greece, where it will connect with the IGI pipeline (the Italy-Greece interconnector).
CNA sources, close to the study, said that conditions have been met for the pipeline, but that Cyprus wants to further review the study and confirm the conclusions.
According to CNA’s information, the indications are positive, but needs further review due to other hydrocarbon discoveries that could be in the area.
CNA learnt that it is important for companies exploring hydrocarbons to know if new gas fields are discovered, there will be ways to market the gas.