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EastMed pipeline deal to be reached very soon government says
November 26, 2018
Cyprus is very close to reaching an agreement with the countries involved in the construction of the East Med pipeline to transfer natural gas from the Eastern Mediterranean to Europe, a government source said on Sunday.
The government source was commenting on reports in The Times of Israel this week, which, citing reports of Hadashot TV, said that Greece, Italy, and Cyprus have reached an agreement with Israel to lay a pipeline connecting the latter’s gas reserves to the three countries to supply gas from the eastern Mediterranean to Europe.
The media outlet recalled that the European Union agreed to invest $100 million in a feasibility study for the project – estimated at over $7 bn – before the agreement was reached “over the laying of the longest and deepest underwater gas pipeline in the world.”