On January 2nd, 2020, we had the signature of the Intergovernmental Agreement regarding the East Med Natural Gas Pipeline, which constituted an important step of this geo-economic program, which belongs to the famous projects of common interest of the European Commission.
Three European Union countries participated in this program, Greece, Cyprus, Italy and with them Israel. The signature prognosticated that the ratification process would begin after a period of 120 days.
Therefore, we have now reached the stage of submitting to the Greek Parliament for ratification of that Intergovernmental Agreement.
This involved the Ministers of Finance, Foreign Affairs, Justice, Environment and Energy.
In this manner we now have the completion of the complex
of both East Med pipeline and the Poseidon pipeline between Greece and Italy.
There is, of course, within this context an enhancement of the Law of the Sea , since the Parties which sign also recognize the Law as a field of this Agreement.
Consequently we have the emergence of a geopolitical tool which follows the overall energean policy of the European Union.
As a result this ratification will constitute a historic event.