The Greek Environment Ministry announced today that DEPA would be launching a study to check if it is feasible to build a pipeline that will transport natural gas from deposits in the Eastern Mediterranean (Cyprus and Israel) through Crete and mainland Greece to the rest of Europe.
The project “Eastern Mediterranean Pipeline” promoted by DEPA, in collaboration with the Ministry of Energy, Commerce, Industry and Tourism of Cyprus and has been identified as a common interest project by the European Commission.
According to the original design, the pipeline will have a capacity of 8 billion cubic meters per year and will consist of the following parts:
a) A 150km underwater section from the deposits to Vasiliko, Cyprus
b) A 650km underwater section from Vasiliko to the shore of eastern Crete
c) A 400km underwater section from Crete to the South-East coast of Peloponnese
d) A 260km land section running across Peloponnese
e) An underwater section crossing the Gulf of Patras and finally
f) A 220km land section from the shore of Aetolia-Acarnania to Thesprotia
The feasibility study will provide more detailed technical data regarding the construction and operation of the pipeline, as well as the necessary economic and commercial considerations in relation to its sustainability. The total cost will be covered by DEPA and other companies, which have shown interest in the project, or organizations involved in the exploration and exploitation of natural gas in the basin of the southeastern Mediterranean. Meanwhile, DEPA is also seeking some funding from the EU.
The Greek Minister of Environment, Energy and Climate Change, Yiannis Maniatis said: “The Eastmed pipeline is a reliable alternative solution for the extraction of natural gas from SE Mediterranean to European countries. This is proven by the strong European interest in creating a new energy corridor. The positive results are obvious. The Greek economy and Greek consumers will still enjoy lower energy costs, while the country will take on an upgraded and powerful role in the international energy scene.”