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Israel, Greece and Cyprus sign historic subsea gas pipeline project

The EastMed pipeline with an investment of $6-7 billion is due to be completed by 2025 according to an accord signed at a ceremony in Athens on Thursday.

It is  designed to carry 10 million cubic meters of gas per year roughly 1,900 km from the Mediterranean offshore gas fields of Israel and Cyprus to the Greek island of Crete, on to the Greek mainland and into Europe’s gas network via Italy.

Prime Minister Binyamin Netanyahu, his Greek counterpart Kyriakos Mitsotakis and Cypriot President Nicos Anastasiades attended the ceremony.

Turkey has greeted the project with open hostility and threats.