East-med gas pipeline: constituted a working group to monitor project development

Thursday, 01 December 2016

Carlo Calenda, Minister of economic development of Italy, Georgios Stathakis, Minister of environment and energy of Greece, Georgios Lakkotrypis, Minister of energy, commerce, industry and tourism of Cyprus, met in Rome on December 1st at the presence of Miguel Arias Cañete, EU Commissioner for climate action and energy, and of Ron Adam, Policy Adviser of Minister of infrastructures, energy and water resources of Israel, at the margin of the Union for Mediterranean Rome meeting, to review the results of the pre-feed studies for the east-med gas pipeline project performed by IGI Poseidon, financed by CEF regulation, and expressed their satisfaction for having demonstrated the technical feasibility and commercial viability of the proposed pipeline.

In consideration of the strategic value of this project, aimed at creating a direct export route for east-med resources into Europe, as part of the Eastern Mediterranean Corridor, complementing other export options under assessment, the Ministers have decided to constitute a three-lateral working group to monitor project development activities and identify means of joint support to the project, aimed inter alia to the inclusion of the east-med gas pipeline project in the 3rd PCI list and to the access to financial support under CEF for advancing in the next phase of development of the project.

 


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