![]() ![]() The Greek IPTO power grid operator has already begun building the portion of the Greek island of Crete, which is expected to be finished in 2 years’ time. Israel, Greece and Cyprus have forged a regional alliance based on energy as the three countries also aim to explore and exploit natural gas resources. About 310 kilometers in length will link Israel and Cyprus, some 900 kilometers between Cyprus and Crete, and about 310 additional kilometers from Crete to mainland Greece. ![]() ![]() The power cable would boost “energy security” for Europe and end the isolation of Cyprus as the only non-interconnected EU member state. The European Commission had acknowledged it as a key “Project of Common Interest”, making it eligible for EU financing. The first phase is expected to be operational by 2025, linking the three countries to energy grids in Asia and Europe, said Pilides. The project aims to connect the electricity grids of Israel, Cyprus, and Crete in Greece through a 2,000-megawatt undersea cable. Steinitz said it would allow Israel “to receive electricity backing from the power grids of the European continent in times of emergency and… significantly increase reliance on solar power generation”. It was a “major step forward” in integrating renewable energy sources, they said, without giving cost estimates. The three ministers, in a joint statement, said they agreed “to promote cooperation to examine the possibility of planning, as well as the potential development and implementation of the project”. The memorandum of understanding on the 1,200-kilometre (745-mile) EuroAsia Interconnector was signed in Nicosia by Cyprus Energy Minister Natasa Pilides and her Israeli counterpart Yuval Steinitz, while Greece´s Kostas Skrekas joined them by videoconference. Greek prime minister Kyriakos Mitsotakis and energy minister Kostas Skrekas will be involved in two key meetings in Athens today, to focus on energy matters as a result of Russia’s war on Ukraine, with Israel’s alternate prime minister and foreign affairs minister Yair Lapid, as well as US under secretary of state for political affairs Victoria Nuland.NICOSIA: Cyprus, Israel and Greece signed an initial agreement on laying the world´s longest undersea power cable linking their electricity grids. The European Commission has already approved funding worth 657 million euros for the prospective project’s section to run from Greece to Cyprus. Italian Prime Minister Mario Draghi recently stressed that development of the East Med gas pipeline, a prospective 2,000-km pipeline planned to carry natural gas to Europe via Greece, Cyprus, Israel and Italy, needs to be pursued as a result of Russia’s invasion of Ukraine.Ī consortium formed by Greek gas company DEPA and Italy’s Edison is continuing its studies on the East Med project plan.Īs for the subsea electricity grid interconnection, Cyprus and Israel have pushed for its development to end their energy isolation. The session is planned to take place in a fortnight’s time or immediately following the Greek Easter period, culminating on April 24. The East Med gas pipeline and a subsea electricity grid interconnection to link Israel with Greece and Cyprus, projects whose prospects have grown as a result of the EU’s new energy policy, aiming to end the continent’s reliance on Russian gas as soon as possible, are expected to dominate the agenda at an upcoming trilateral meeting between the energy ministers of Greece, Cyprus and Israel. Maby Israel Collective (Photo By: Twitter) By: JNS - MaIsrael, Cyprus and Greece on Monday signed a memorandum of understanding regarding a project to link their power grids via the construction of the world’s longest and deepest undersea power cable. euro to first step in connecting Israel to European power grid The 898 km undersea line will link Greece and Cyprus in the first step of the EuroAsia interconnector. ![]()
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