In a presentation that took place in Brussels last Monday, EDISON explained why the Eastern Mediterranean Pipeline (EastMed) is an economically and commercially viable project. The company presented a series of relevant data to the Energy General Secretariat of the EU and the Chief Executives of the involved countries Greece, Israel, Cyprus and Italy.

After the meeting followed a discussion where all sides had the opportunity to exchange their views on the project.

The EastMed will cost approximatelly 6bn Euros and it is planned to start from the Israeli natural gas deposit of Levantin, go to Cyprus where the first natural gas compression station will be. Then it will go underwater to Crete where a second station will be built and then through mainland Greece will connect with the IGI (Italy, Greece Inter-connector) pipeline to Italy.

The parts involved are optimistic, especially if possible future deposits are discovered. The pipeline will supply not only the countries involved but it will be an alternative source of natural gas for the EU countries as well.