After the ratification of the intergovernmental agreement in regards to the EastMed natural gas pipeline by Greece, came the time for Cyprus on July 17, 2020 and Israel on July 19, 2020.
Therefore, this phase of the ratification by the three countries reached completion within seven months, which is a very important factor, since we overcame the obstacles of the pandemia in an effective manner while simultaneously preparing the counterattack toward the expansionistic statements of Turkey.
Because the latter is claiming regions through which the EastMed pipeline will pass undisturbed.
We remind that Israel, which comes to close this cycle, has accepted that the Law of the Sea will constitute the context of the agreement, even though it has not as yet signed it.
Additionally, the EEZ delimitation agreement between Greece and Italy came in time, in order to enhance the final phase of the ratification.
This means that the context is ready for the integration of Italy as well, since the agreement was formulated in such a manner so that it would not be sealed.
It is wise to note at this point, as stated by the European Union Ambassador in Tel Aviv, that the European Union has assisted Greece, Cyprus and Israel in regards to the drafting of the agreement, a factor which proves that this project of common interests enjoys the full European support.
After all, the U.S.A as well welcomes it, in a very positive manner.
And the reason is simple, since all the oil companies which are involved in the hydrocarbon exploration and drilling program in both the Greek and Cypriot EEZs, have a direct benefit from the utilization of a system of natural gas pipelines within the Eastern Mediterranean, directed for the supply of the European Union.
Consequently, the EastMed pipeline moved through to another stage which is preparing its implementation.
In fact, in this action field, they have planned three plus one overview studies of the underwater as well as land regions where the pipeline will function and which ought to will be ready by 2025 .