Greece, Cyprus, Israel and Italy with the support of the European Commission vowed on April 3 at a ministerial summit in Tel Aviv to move ahead with plans for a proposed 2,000 kilometer subsea pipeline to transport gas from the newly-found reserves of the East Mediterranean to the Southern European markets.
Cyprus Natural Hydrocarbons Company CEO Charles Ellinas told New Europe on April 3 that “the meeting maintains interest to the project but it does not bring it any nearer. The pipeline can become feasible only if gas prices in Europe exceed $8 per one million BTU (British Thermal Units)”.
In Tel Aviv, Israel’s Energy Minister Yuval Steinitz told a press conference with his counterparts from Greece, Cyprus and Israel that this is the beginning of a wonderful friendship between four Mediterranean countries.
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