The East Med Subsea Pipeline is intended to be the deepest and the longest subsea pipeline in the world. The Israeli Energy Minister, Dr. Yuval Steinitz, has signed MOUs with the governments of Cyprus, Greece and Italy in order to begin the process of the pipeline which is supposed to be completed by 2025. The European Commission has also supported the project by investing 100 million Euros in research and studies.
In a recent energy conference in Greece, the Energy Ministers of Israel, Greece, Bulgaria and Serbia met in order to inquire regarding the option of expanding the East Med Pipeline project: the gas pipeline from Israel and Cyprus to Greece and Italy would be connected to the Balkan countries as well.
The Bulgarian Energy Minister explained in the meeting that her government’s policy is to diversify their energy sources, and she is supportive of this connection.
She added that this pipeline would transform Bulgaria to a Balkan energy hub due to its location. The Energy Ministers agreed that this is an important project that could change the European energy market and have decided that professional teams will examine the technical and economic feasibilities.