Survey for laying of the East Med pipeline

תאריך: 10/29/2020

​​This week the Petroleum Commissioner at the Ministry of Energy, Yossi Wurzburger, approved for Goldline, IGI Poseidon’s representative in Israel, to begin carrying out a preliminary survey to gather information for laying of the East Med pipeline and its engineering layout

​​This week the Petroleum Commissioner at the Ministry of Energy, Yossi Wurzburger, approved for Goldline, IGI Poseidon’s representative in Israel, to begin carrying out a preliminary survey to gather information for laying of the East Med pipeline and its engineering layout.

The survey, which will start in Israel’s territorial waters in the east and stretch out to the border of Israel’s exclusive economic zone in the west and continue westward into Cypriot and Greek waters, is the first operative phase in the advancement of the project.

Minister of Energy Dr. Yuval Steinitz: “Another small step in the path to laying the longest and deepest subsea pipeline in the world, fortifying Israel’s position as an exporter of energy – a process which will bring in tens of billions in revenues for the benefit of the State and its citizens in the coming years”.
As may be recalled, in July the Government approved the agreement devised by the Minister of Energy Dr. Yuval Steinitz, together with the ministers of energy of Cyprus, Greece and Italy, an agreement which for the first time brings together the three countries, Israel, Greece and Cyprus, under the auspices of the European Union. The countries desire to give support to the ambitious, innovative and unique project of a pipeline which will transfer natural gas from Israel and Cyprus to Greece and Italy, and from there to the European market. As part of the agreement, the countries commit to collaborate in order to enable the execution of the project in all areas and on all levels. The agreement states that the source countries for the natural gas will be Israel and Cyprus. The countries even agreed that other countries may be added to the project with the agreement of all founding countries.
The East Med project is a strategic gas pipeline approx. 2,100 km long (of which approx. 350 km onshore and approx. 1,750 km offshore), which will allow for export of natural gas located in the exclusive economic zones of Israel and Cyprus to Greece and Italy and from there to the rest of Europe. The pipeline will make it possible to connect the entire eastern Mediterranean Sea basin to a single export system. The states promoting the project are Israel, Greece, and Cyprus.
In the initial phase, the pipeline is planned to have a capacity of 10 BCM per year, with a possibility of doubling the capacity to 20 BCM per year. A study of the economic, commercial and physical feasibility of the project is being carried out by IGI Poseidon SA, with the support of the European Union, which has included the project in its list of Projects of Common Interest (PCI). The pre-FEED study of the project showed that it has technical, economic and commercial feasibility. Currently, an in-depth FEED study of the onshore and offshore route of the pipeline, a detailed offshore survey, and receipt of the required permits are in progress, in order to reach a final investment decision (FID) within two years and to complete the pipeline’s construction by 2025.
The East Med pipeline will ensure a long-term export channel for Israeli natural gas to Greece and from there to additional European markets. The project will strengthen the energy security of the European Union and diversify the sources of natural gas supply to Europe.