Israeli Prime Minister Benjamin Netanyahu told a forum with Italian business leaders in Rome that his country wants to develop gas cooperation with Italy. Israel is planning a new liquefied natural gas (LNG) terminal in Cyprus to increase gas export capacity to Italy and Europe. This statement was welcomed by the Italian Minister of Enterprise, Adolfo Urso, who stressed the need for Italy to win the challenge of energy autonomy.
A strategic need in Italy and Europe
Since the war in Ukraine, Italy, like other European countries, has multiplied its initiatives to get out of its dependence on Russian gas. Israel has become a gas producer and exporter thanks to the discovery of several gas reservoirs off its coast in the Mediterranean. However, the lack of a pipeline to connect Israeli drilling platforms to southern European markets poses a major problem for the Hebrew state.
Alternatives for bringing Israeli gas to Europe
The EastMed project, which involves the construction of a largely undersea gas pipeline of nearly 1,900 km, is one of the options being considered to bring Israeli gas to Europe. This pipeline would connect Israel’s offshore gas fields with southern Europe via Cyprus and Greece. The gas would then be transported to Otranto, in southern Italy, via the Poseidon pipeline. However, this project is expensive and is not expected to be completed and in service until 2025-2027.
Enhanced cooperation between Israel and Italy
Benjamin Netanyahu mentioned the option of creating a new liquefied natural gas terminal in Cyprus to increase Israel’s gas export capacity to Italy and Europe. The Israeli Prime Minister stressed that there is a strategic need in Italy and Europe for gas and that Israel is ready to do more in this regard. This statement was welcomed by his Italian counterpart, who said that Italy aims to become the European gas hub and that Israel must be the point of strength for gas production.
