The plan of Israel, Cyprus and Greece for LNG exports to Europe

Israel pledged its support to its European allies in their quest for energy security and independence through Energy Minister Karin Elharar during yesterday’s ministerial meeting with Costas Skrekas and Cypriot Minister Natasa Peleidou.

This was noted by Ms. Elharar in her statements promising gas exports from the fields of the Israeli EEZ to European markets.

As can be seen from the statements of the Minister of Environment and Energy Costas Skrekas, the three countries agreed on the export of Israeli gas from a liquefaction plant in Cyprus in order to transport its quantities by ships to Europe and from the major LNG terminals in Egypt. The last country to be noted imports quantities of gas from Israel through a pipeline.

Energean’s proposal

According to information, the Greek minister during yesterday’s tripartite meeting supported Energean’s proposal for the installation of a floating gas liquefaction tank (FLNG) in Cyprus.

The ship named Hilli belongs to Golar LNG, a member company of Vitol and is based in Cameroon. It will be available from the summer of 2026. The gas to be liquefied and extracted will come from Energean deposits in the Israeli EEZ. The Greek company is already making its first drilling in the Athena target and their quantities will reach the FLNG by pipeline.

However, Energean, according to information, has the ability to export gas to meet the needs of Cyprus from 2024 with quantities from the concession “Northern Caris”, which will enter production from the second half of 2023.

EastMed and cable connection

The three ministers reportedly reaffirmed their support for the EastMed pipeline during the tripartite meeting. In fact, they agreed on the need to adapt it so that it can carry hydrogen and in this way the pipeline has a longer lifespan and viability.

Progress has also been made on the EuroAsia Interconnector electrical interconnection with Israel now declaring its enthusiasm for the development of the Israel-Cyprus-Greece cable.