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Expected Gas Sourcing
Levantine Basin and offshore of Crete in case relevant reserves will be discovered.
Comments about the Third-Party Access Regime
The access regime will be defined at a later stage of the development activities
Benefits
Main Driver
Others
Main Driver Explanation
The primary objective of the Eastern Mediterranean Pipeline is to provide a permanent connection of the recently discovered gas reserves in the Levantine
Basin with the European gas markets. The specific objectives to be achieved with implementation of the project are to: exploit the proximity of the
Levantine Basin gas fields to mainland Europe, to diversify the sources, routes and counterparts of the European gas supply with 10-16 bcm/year of
deliveries from new sources, which are wholly or partly produced within the EU; integrate Cyprus with the European gas system, further promoting gas
trading in the South Eastern Europe region; promote the development of a gas trading hubs in Greece and in Italy, in connection with other Southern
Corridor initiatives, facilitating gas exchanges in South Eastern Europe; gasify regions of Greece that currently have no access to gas, such as Crete,
Peloponnese and Western Greece.
Benefit Description
The dependence of the European Union on external gas supplies is continuously increasing, with indigenous production declining, leading to the need to
diversify sources so as to strengthen security of the markets' supply, particularly in SEE. On the other hand, unlocking the recent discoveries in the
Levantine Basin, including - referring to the sole Cyprus - the largest recent discovery of gas reserves in Europe, is particularly relevant for the
development of the exploration and hydrocarbons in the whole East Mediterranean. Considering all the above, EastMed addresses the following main
needs: Increases security and diversification of gas supplies to Europe, as well as competition in line with the EU objectives to complete the internal
energy market; Contributes to the development of EU domestic gas resources, thus limiting the dependence on third countries Secures access to gas
sources strategically located for EU
Time Schedule
Grant Obtention Date
23/10/2015
Delay Since Last TYNDP
Delay Explanation
Barriers
Barrier Type
Description
Political
EastMed Pipeline has been consistently supported by the Cypriot, Greek and Italian Governments.
Financing
It is going to be submitted a request to access CEF funds for feasibility studies
Generated by ENTSOG PDWS on 10/10/2016 05:00:19 PM
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Current TYNDP : TYNDP 2017 - Annex A