JERUSALEM, Nov. 27 (Xinhua) -- Israeli Ministry of Energy announced on Tuesday that the world's longest and deepest undersea natural gas pipeline will be built and connect Israel with Europe.
An agreement to build the pipeline is expected to be signed soon among Israel, Greece, Italy and Cyprus under the auspices of the European Union (EU). The cost of the project is estimated at 8 billion U.S. dollars.
The pipeline, which will enable Israel to export natural gas to Europe, will be 2,100 km in length and reach a maximum depth of 3,000 meters.
The pipeline will link Israeli maritime area with Italy, passing through sea and land areas in Cyprus and Greece.
Some 70 million euros (79 million dollars) have been allocated from the EU and entrepreneurs to promote feasibility checking and planning.
Construction is expected to begin in mid-2020. The pipeline is estimated to have a capacity of 10 to 20 billion cubic meters per year.
According to the agreement, it will be possible to add other parts to the project with the consent of the four founding countries.
Israel's Ministry of Energy said in a statement that this cooperation will strengthen relations among the partner countries.
It will be a milestone in the creation of a natural gas hub in the Middle East and make Israel a significant player in the European energy market, the statement added.