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Greece, Israel, Cyprus, move to build East Med gas pipeline

2020-01-03 10:02:59       source:The Aljazeera

January 3, 2020

Athens, Greece - The governments of Greece, Israel and Cyprus have signed an agreement to build a pipeline that could supply Europe with 4 percent of its annual gas needs by the middle of the decade.

"Today we did not simply sign a beneficial agreement. We sealed our resolve for a strategic connection between our countries in a region that now more than ever needs growth and security," Greek Prime Minister Kyriakos Mitsotakis said on Thursday.

The agreement is a statement of political will, but it is now up to the construction consortium, led by the Public Gas Corporation of Greece (DEPA) and Italy's Edison, to find the roughly six billion euros ($6.7bn) the pipeline is estimated to cost.

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