Greece, Israel, Cyprus sign deal to link electricity in world’s longest undersea power cable


Plans to connect Israel, Cyprus and Greece with a 2,000 megawatt undersea electricity cable took a key step forward on Monday, when the three countries signed an agreement to speed up technical work on the project.

Cypriot Energy Minister, Natasa Pilides, hosted a ceremony in the capital Nicosia on Monday with her Israeli counterpart, Yuval Steinitz, and Greek Minister, Kostas Krekas, participating via online link.

Pilides said that with the signing of the Memorandum of Understanding, the three ministers agreed on the need to expedite permits and approvals to conduct feasibility studies and to coordinate with their respective national electricity regulators on how best to proceed.

READ MORE: Greece, Israel and Cyprus to sign EastMed agreement.

Cypriot President Nicos Anastasiades, Greek Prime Minister Kyriakos Mitsotakis and Israeli Prime Minister Benjamin Netanyahu attend the signing of a deal by their respective Energy Ministers to build the EastMed subsea pipeline. January 2, 2020. Photo: Reuters / Alkis Konstantinidis.

Pilides said the deal boosts cooperation “in supporting the planning, potential development and implementation of the EuroAsia Interconnector, as an additional element of the emerging Eastern Mediterranean Energy Corridor.”

Pilides called the project a “cornerstone” of the countries’ efforts to transition to a green economy that will protect the environment while promoting economic growth.

She said the cable will help the three countries meet their commitments under the Paris Agreement on Climate Change, which aims to limit carbon emissions, while helping to diversify the energy supply of fossil fuel-dependent Cyprus.

READ MORE: Greece and Israel Foreign Minister’s “eye to eye” on military cooperations.

The project’s first phase is expected to be operational by 2025.

The European Union’s executive Commission has said the cable is a “key project of common interest” that makes it eligible for EU financing.

Pilides said some of the project’s additional benefits include enhancing energy supply security and allowing the three countries to be potential energy exporters.

READ MORE: Greece and Israel complete historic $1.68 billion defence agreement.

Cyprus is working on a separate deal with Greece and Egypt on a similar cable connecting the three countries.

Israel, Cyprus and Greece have also teamed up for a planned $6 billion undersea pipeline to carry gas from new offshore deposits in the southeastern Mediterranean to continental Europe.

Source: AP News.




By subscribing you accept our Terms of Service and Privacy Policy.


Latest News

Mykonos shop owner reflects on Australia, Greece and crystals

Greek Australian, Apostolos Triantafyllou, 56, has been living in Mykonos for over 30 years now, and running his jewellery store 'Amethyst'.

Niki Louca shares her recipe for chicken pie with mushrooms

Niki Louca from My Greek Kitchen shares her favourite recipe for kotopita with manitaria (chicken pie with mushrooms) with The Greek Herald.

Dr Trakakis to give lecture in Melbourne on the late poet Tasos Leivaditis

Dr Nick Trakakis will give a seminar on Thursday, May 30 at the Greek Centre in Melbourne on the late poet Tasos Leivaditis.

Greek Australian artist VASSY receives Billions List award

Greek Australian-bred, singer, songwriter and dance music producer VASSY, has been honoured with the Billions List Award by APRA AMCOS.

Themis Chryssidis to reinvent his acclaimed Adelaide restaurant

Themis Chryssidis is transforming his acclaimed city restaurant, eleven, with a new menu and more affordable prices.

You May Also Like

Greek language revival can follow Aboriginal example, say La Trobe experts

Spoken Greek in Australia and Aboriginal languages are not directly connected, but they are both victims to Australia’s ‘linguicide.’

Love Crepe Creates Frappe Flavoured Gelato

Aside from devouring a delicious gyro, no trip to Greece is complete without ordering a crepe done Greek-style, wrapped and held in the hand...

Book on Cretan hero Ioannis Kouromichelakis to be launched in Melbourne

'Filius Patriae: Lieutenant Ioannis Kouromichelakis', is an epic historical narrative written by historian Professor Anastasios Tamis.