An
underwater natural gas pipeline connecting
Greece
and
Cyprus
can be realized by 2018, according
to the Greek Energy undersecretary, M. Papageorgiou, who spoke today during the
EUROMED Ministerial Conference
in
Cyprus
.
Mr. Papageorgiou
mentioned that “financial studies consider the project as economically viable,
according to the needs of the European market and the valuation of the natural
gas fields of the eastern
Mediterranean
”. The pipeline could carry up to 8 bcm of gas annually
from
Cyprus
to
Crete
and then to the
Greek mainland. From then on, the gas could be transferred either to
Italy
through the Poseidon pipeline, or even to
Bulgaria
, through the IGB pipeline.
Mr.
Papageorgiou said that “the required feasibility study will determine the
best possible path for the pipeline”. He also clarified that the transfer of
gas through this pipeline is only one of multiple options. Additionally, the characterization
of specific energy projects in the region as projects of common interest by the
E.U. will allow for easier funding and will thus make them more feasible.
About the EuroAsia
Interconnector project
,
which will attempt to connect the electricity grids of
Greece
,
Cyprus
and
Israel
, Mr. Papageorgiou said that in
December 19 a meeting will be held between the three parties to examine the
technical aspects.