After two years of intensive discussions, Israel, Cyprus, Greece and Italy, with the backing of the European Union, have reached an agreement on laying the world’s longest underwater pipeline for the export of gas from the Eastern Mediterranean to Europe.
The project, which will cost an estimated 25 billion, and was initiated by Minister of National Infrastructures, Energy and Water Resources Yuval Steinitz, who first presented it at a conference in Abu Dhabi two years ago.
The project entails the most complex engineering with the pipeline laid at a depth of 3-3.5 kilometers beneath the sea over a distance of 2,100 kilometers. The EU has spent $100 million to date in feasibility tests and so far, the results have been positive.
Under the terms of the agreement, exports of gas to the European market from Israel and Cyprus will be given preferential status. Other countries can be allowed to link up to the pipeline with the agreement of the founding countries.
The pipeline, which will have a capacity of 10-20 billion cubic meters of gas, will be laid from Israel’s economic water to Cypriot waters and across Cyprus and via sea onto Greece, Crete and Italy.
The agreement will enable Israel to become an energy supplier to Europe that has both economic and political importance. This will be the first time ever that Israel has joined with the EU on any major infrastructure project.
And can be a sign of agreements to come between Europe and Israel for the MidEast Region, that have great prophetic significance for Israel and the world in the end-time as found in the prophecies of Daniel the 8th and 9th chapters.
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