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Israel approves next phase of massive gas pipeline to Europe

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(Worthy News) – The government on Sunday approved the advancement of the Eastern Mediterranean gas pipeline project, a massive 6 million Euros ($7 billion) venture that will carry gas from Israel’s offshore oil fields to Europe, the news website The Marker reported.

Following two years of negotiations, in 2018 Israel signed an agreement with Italy, Greece, and Cyprus to lay the mostly underwater gas pipeline that will traverse a distance of 1,900 kilometers (1,242 miles).

Energy Minister Yuval Steinitz, who promoted the project, said that “the approval of the framework agreement in the government is another historic milestone in our efforts to make the State of Israel an energy exporter – a move that will generate tens of billions in revenue for the state and its citizens in the coming years.” [ Source: World Israel News (Read More…) ]

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