Officials from Cyprus, Greece, Israel and Italy have signed a memorandum of understanding to plan a 2,100 kilometre underwater pipeline linking the natgas-rich offshore Leviathan field directly to Europe, boosting equities on the Tel Aviv Stock Exchange prior to the deal.

The Ministers of Energy of Cyprus, Greece and Israel, and a senior diplomat from Italy signed the MoU in Nicosia which paves the way for Israel to export its natural gas to Italy via the EastMed project, bypassing Turkey.

 

As reported in Financial Mirror