Thursday, May 23rd | 18 Iyyar 5779

April 6, 2017 10:15 am

Israel, EU Agree to Build World’s Longest Gas Pipeline by 2025​​​​​​​

avatar by

Email a copy of "Israel, EU Agree to Build World’s Longest Gas Pipeline by 2025​​​​​​​" to a friend

A gas pipeline. Photo: Wikipedia. – Government ministers from Israel, Cyprus, Greece, Italy and the European Union (EU) signed a joint statement at this week’s EastMed Energy Summit in Tel Aviv, agreeing to advance the creation of the world’s longest gas pipeline.

The pipeline will span 1,200 miles, running undersea between Israel and Italy, and is expected to cost upwards of $5.5 billion. It is slated for completion by 2025.

The project is expected to significantly increase Israel’s natural gas export potential and strengthen the country’s position as an emerging energy powerhouse in the Mediterranean.

Israeli Energy Minister Yuval Steinitz said the “project means that Israel has been accepted not just in the Middle East, but also by Europe as a significant player in the international energy economy.”

As Israeli business news outlet Globes reported, EU Commissioner for Energy Miguel Arias Cañete said the partnership is important, as “in the future the region is going to become a very important gas market.”

Share this Story: Share On Facebook Share On Twitter Email This Article

Let your voice be heard!

Join the Algemeiner