Energy Ministers of Cyprus, Greece and Israel will meet next Monday with EU Commissioner on Energy Union Maros Sefcovic to promote a joint project on a pipeline to transfer natural gas from the Eastern Mediterranean offshore fields to Europe.
Energy Minister Giorgos Lakkotrypis told the Cyprus News Agency that the three Ministers had signed a letter requesting a meeting with Sefcovic.
The three Ministers will promote a planned pipeline connecting Israel Cyprus, Greece with Europe in view of the new call by the European Commission for projects of common interest in the first quarter of 2015.
Sources told CNA that the ministers would request the approval of the project which emerged after a merger of two separate projects (Cyprus Trans Med pipeline and Greece`s East Med pipeline) to be implemented by the Greek Gas Corporation (DEPA as a project of common interest (PCI) that will give access to EU funding for technical and feasibility studies.
Projects that will be considered as PCI’s will be entitled to request funding from the Connecting Europe Facility with a budget of €5.85 billion.
The same sources made clear that only new reserves would be channeled through the pipeline, as Cyprus is in consultations with Egypt for a possible sale of the Aphrodite reservoir (estimated at 4.5 trillion cubic feet) located in block 12 of Cyprus` EEZ. Egyptian Minister Serif Ismail said during a Cyprus, Greece and Egypt Energy Ministers meeting that his country could absorb Cyprus` natural gas reserves.
Italy`s ENI is carrying out an exploratory drilling in block 9 with the results expected by January the latest. ENI also has been granted concessions for exploratory drilling in blocs 2 and 3. French TOTAL which has concessions over blocks 10 and 11 will begin exploratory drilling in the second half of 2015.