“From all toil there is some gain, But idle chatter is pure loss.” Proverbs 14:23 (The Israel Bible™)
A memorandum of understanding (MOU) for construction of the world’s longest underwater natural gas pipeline is to be signed by the the energy ministers of Israel, Cyprus, Greece, Italy and the European Union on Tuesday.
Israel’s Minister of National Infrastructure, Energy and Water Resources Yuval Steinitz confirmed to Tazpit Press Service that he will attend the summit that will be held in the Cypriot capital Nicosia.
In April representatives of the EU, Israel, Italy, Greece and Cyprus signed a joint declaration to promoting the project to export gas to Europe from Israel’s Leviathan field and Cyprus’ Aphrodite bloc and decided to establish a workgroup to promote an interstate agreement.
According to Israel’s Ministry of National Infrastructures, Energy and Water Resources website the pipeline will be some 2,000-km long, will cost approximately $6 billion and could be completed by 2025.