Cyprus speeds up gas pipeline with Israel for export to Europe

Cyprus is stepping up efforts to establish a new gas link with Israel to export the fuel from the eastern Mediterranean to Europe.

Cyprus now wants to focus on a lower-cost plan after earlier pledging to support the 9 billion euro ($9.7 billion) Eastern Mediterranean gas pipeline project, its energy minister said. The plan proposes using another pipeline to import natural gas from Israel, liquefy it in Cyprus, and export it to Europe or the rest of the world.

Cyprus will hold a two-day workshop starting Monday to elaborate on the project. Participants will include oil majors such as Total, Exxon Mobil, Eni and Shell. (Golden Ten Data APP)