The European Union is interested in the exploitation of natural gas on fields located in the eastern region of the Mediterranean Sea. And for this purpose which has granted 2 million Euros to Cyprus for a feasibility plan for the construction of a pipeline from Cyprus to continental Europe. This was reported by the business newspaper Globes according to the Cypriot media reports.

According to a spokesman for the European Union, the natural gas fields in the eastern Mediterranean are a contribution to the Europe, established in the region and energy security of the countries in addition to the opportunity, to diversify its providers gas.

Israel and Cyprus, the countries in whose economic zones are important natural gas fields, are particularly interested in this project, which should fall under the category of PCI – Projects of Common Interest.

The European contribution will serve to finance the necessary preliminary feasibility test technique in addition to calculating the cost-effectiveness of the project in general. Only after this test, the European The Union will decide whether to contribute to the financing of the construction of the pipeline.


Source: medNews