The EastMed natural gas pipeline has been deemed technically feasible and commercially viable by a preliminary study, an official press release from Cyprus’ Energy Ministry said on Thursday.
The study was examined by Cyprus’ Energy Minister, Yiorgos Lakkotrypis, Greek Environment and Energy Minister Giorgos Stathakis, and Italian Economic Development Minister Carlo Calenda, during a ministerial meeting in Rome for the Union for the Mediterranean.
According to the press release, Lakkotrypis, Stathakis, and Calenda met in the presence of European Commissioner for Energy and Climate Change Miguel Arias Canete, and Ron Adam, policy advisor of the Israeli Ministry of Energy.
During the meeting the preliminary study of the EastMed natural gas pipeline project was reviewed.
“The Ministers expressed their satisfaction for the fact that the study showed that the proposed pipeline is technically feasible and commercially viable,” the press release said.
The press release noted that the after reviewing the results the Lakkotrypis, Stathakis, and Calenda agreed to establish a working group, as the project aims to create a direct export route of natural gas reserves in the Eastern Mediterranean.
The press release added that the working group will monitor development project activities.
The preliminary study on the pipeline was conducted by IGI Poseidon and was funded by the Connecting Europe Facility (CEF), the press release said.
Source: CNA
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