ATHENS, Jan. 2 (Xinhua) -- Public Gas Corporation of Greece (DEPA) signed a letter of intent with the London-based Energean Oil & Gas company here on Thursday for the supply of 2 billion cubic meters (bcm) of natural gas annually from Energean's gas fields offshore Israel through the Eastern Mediterranean (EastMed) natural gas pipeline, which is to be constructed to link the region's reserves to Greece and the rest of Europe.
The ceremony was held as Greek Prime Minister Kyriakos Mitsotakis held separate meetings with the Cypriot President Nicos Anastasiades and Israeli Prime Minister Benjamin Netanyahu with all leaders talking about a "historic day".
The three sides are scheduled to sign on late Thursday an intergovernmental agreement for the launch of the project here.
Greek Minister of Environment and Energy Kostis Hatzidakis welcomed the signing between the two companies as a "milestone for the sustainability of the pipeline..."
Addressing the event Mathios Rigas, CEO of Energean, noted that this is the first commercial agreement for the EastMed pipeline which will substantially benefit the economies, the security of supply and the consumers of the Eastern Mediterranean and Europe, according to an e-mailed joint press release issued by the two companies.
On his part, DEPA CEO Konstantinos Xifaras added that the 2 bcm of gas corresponds to 20 percent of the EastMed's initial capacity.
"(The agreement on the EastMed) is the capstone of a very substantial trilateral collaboration that extends beyond the energy sector," Mitsotakis said welcoming Anastasiades on Thursday, Greek national broadcaster ERT reported.
"The aim" is for cooperation and not confrontation in the Middle East, and particularly in issues of energy... It is indeed a significant, historic day," said on his part the Cypriot leader.
During the meeting between Mitsotakis and Netanyahu, the two leaders reiterated the will to deepen cooperation in many areas.
"We would like to suggest a trilateral task force of Fire Brigade with Cyprus so that each country will not have to make separate spending," the Israeli leader said.
The EastMed pipeline will be 1,872 km long with initial capacity for 10 bcm annually, and expandable to 20 bcm maximum annually, according to a Greek Environment and Energy Ministry press release. (1 euro = 1.12 U.S. dollars)
