Israeli Energy Minister Steinitz: We are ready to cooperate with Turkey

Israeli Minister of Energy Yuval Steinitz made evaluations concerning the Jap Mediterranean Pure Gasoline Pipeline Venture (Eastmed) in an interview he gave to the Greek Cypriot press.

Stating that the Eastmed venture will allow the pure fuel of Israel and the Greek Cypriot Administration (GCA) to be delivered to Europe, Steinitz stated, “This venture is essential. Will probably be the longest and deepest venture on the planet constructed beneath the ocean. From immediately, I hope this venture will probably be accomplished inside 5 years.” used his statements.

Noting that Israel attaches significance to and helps the venture, Steinitz argued that the Tel Aviv administration and the Greek Cypriot administration have sufficient pure fuel to provide 2 or 3 fuel pipelines like Eastmed.

Reminding that there have been talks on the export of Israeli fuel to Turkey previously, however there was no end result, Steinitz continued as follows:

“WE ARE READY TO COOPERATE WITH TURKEY”

“I hope at some point Turkey joins the area and even turns into part of the Jap Mediterranean Gasoline Discussion board. It chooses coordination as a substitute of battle. I hope they alter their stance. We are ready to cooperate with Turkey. We would really like to see Turkey as a regional accomplice moderately than a supply of battle.”

Steinitz visited the Greek Cypriot Administration yesterday and attended the signing ceremony of the memorandum of understanding between Israel, Greece and the Greek Cypriot Administration on the interconnection of electrical energy networks.

WHAT IS THE EASTMED PROJECT?

With the Eastmed venture, it’s aimed to transport the fuel extracted from the Jap Mediterranean to Greece by way of the Greek Cypriot Administration after which to Italy.

The venture in query is predicted to be accomplished in 6 to 7 years and price roughly 7 billion {dollars}.

It’s acknowledged that technical and monetary difficulties will probably be encountered within the building of the pipeline, which is among the many tasks supported by the European Union (EU).

The road, which can have a most annual capability of 20 billion cubic meters, is predicted to go 3 kilometers deep and a pair of thousand 100 kilometers lengthy.

In accordance to consultants, it doesn’t appear potential to fill the pipeline with pure fuel that will probably be obtained solely from fuel reserves found in Israel.

It’s acknowledged that even when Egyptian fuel is added to the pipeline, new discoveries have to be made within the area for the venture to be sustainable.