The European Commission has kept EastMed Pipeline proposed to connect the gas reserves in the Eastern Mediterranean to Greece via Cyprus and Crete on its new list of Projects of Common Interest (PCI) despite a delayed investment.
The EastMed pipeline, which is sponsored by Italian energy group Edison and Greece's DEPA International Projects, would connect several gas fields in the Eastern Mediterranean, including some in offshore Israel, to Greece.
Although projects included in the PCI list have access to a fast-track permitting process and special funding, the EastMed pipeline's sponsors have not yet made a final investment decision (FID) on the project due to the ongoing Israel-Hamas conflict in the Middle East.
As reported by Reuters, the final investment decision was initially expected by the end of this year before the ongoing conflict disrupted the plans.
In a separate document published on Tuesday, Italy's energy authority ARERA and its fellow authorities in Greece and Cyprus said the costs of building the EastMed pipeline could not be included in the national tariffs of the three countries.
The authorities also ruled out that the gas grid operators of Italy, Greece, and Cyprus would have to pay compensation for the construction of the infrastructure.