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DEPA President Harry Sachinis: â€œCyprus and Israel should move fast in gas supply process of Europeâ€

29 May 2012 08:36 (UTC +04:00)

Baku â€“ APA-Economics. Cyprus and Israel should move fast to be the first to secure the lucrative southeast Europe gas market, the head of Public Gas Corporation of Greece DEPA Harry Sachinis told New Europe on 28 May, New Europe reported.

Harry Sachinis discussed a scenario been considered by DEPA to carry gas from East Mediterranean to Europe. The proposed pipeline comprises of a pipeline from Israelâ€™s Tamar, Leviathan and Cyprus Block 12 to Cyprus; a pipeline connecting Cyprus with Crete; and a pipeline from Crete to mainland Greece.

Sachinis said Italy and southeast Europe including the Balkans are an attractive market. â€œThat should be an incentive for the Israeli and Cypriot governments to move faster because if they are first there with the gas, even earlier than gas that comes from Azerbaijan, they may be able to choose the market that will give them the better prices and the better opportunity. Itâ€™s in Cyprus and Israelâ€™s hands to be first to the market in southeast Europe,â€ Sachinis told New Europe on the sidelines of the 2012 Mediterranean Oil & Gas Conference in a resort south of Athens.