After ten years of talks, Greece, Cyprus and Israel have agreed on the EastMed gas pipeline construction. Almost 2,000 kilometres in length, the pipeline will be the longest in the world. The pipeline will be designed for an annual capacity of 12 billion cubic metres of gas. The pipeline, which will connect Israel, Cyprus, Greece and Italy, is expected to provide approximately 10% of EU’s gas needs. The pipeline will have enough capacity to transport gas from other reserves in Cypriot and Greek waters which might be discovered in the future. The pipeline construction can take up to seven years, and the construction costs are estimated at USD 6 billion. For the first time in history, Israel will become an energy exporter.
