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Signatures for EuroAsia Interconnector dropped

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Signatures for EuroAsia Interconnector dropped

Cyprus, Israel and Greece signed a MoU on Monday to connect the three countries via the EuroAsia Interconnector pipeline, taking another step towards the project, which is included in the projects of common interest (PCI) and is eligible for European funding from the Facility Connecting Europe.

Signatures for EuroAsia Interconnector dropped

The memorandum was signed at a ceremony at the Presidential Palace by the Energy Ministers of the three countries, Natasa Pileidou, Juval Steinitz, while Costas Skrekas signed the memorandum online from Athens.

This is a project aimed at ending the energy isolation of Cyprus, whose electricity network will be interconnected with the respective networks of Israel and Greece through a 1,208 km high voltage submarine cable (HDVC).

In a joint statement issued by the three Ministers, they stated that recognizing the great importance of their countries' tripartite cooperation in the field of energy, they considered the “Euroasia Interconnector” project as an extremely important step forward in achieving the necessary synergies that will facilitate the integrating more Renewable Energy Sources (RES) into their energy mix, thus enhancing their ability to meet their commitments under the Paris Agreement on Climate Change.

The project will allow countries to take advantage of the great opportunities that open up in the field of green development, while contributing to the protection of the environment.

“This event marks another important milestone in the joint efforts of our three countries to promote regional cooperation in the field of energy. Demonstrating the strong ties between our peoples and building on the work done by our governments in recent years, especially the tripartite meetings of the Heads of State, the Memorandum we are signing today further strengthens cooperation between Cyprus, Israel and Greece for support. of the design, development and implementation of the EuroAsia Interconnector, as an additional element of the emerging Energy Corridor of the Eastern Mediterranean “, said in her speech the Cypriot Minister of Energy.

According to Ms. Pileidou, the first phase of the project is expected to be launched in 2025 and will not only connect Cyprus to the energy networks of Asia and Europe, but will contribute to the completion of the European internal market.

With the current memorandum, he added, the three countries conclude that they need to work together for the timely granting of permits and approvals required for conducting sustainability surveys, as well as discussions and co-operation between national energy regulators and system operators. transport.

“Cyprus, Israel and Greece have so much to gain from the construction of this project”, he said and highlighted the shielding of the electricity networks of the three countries, the further integration of renewable energy sources, the strengthening of the security of electricity supply, while countries can become energy exporters.

“Especially for Cyprus, the EuroAsia Interconnector will be a very important step towards ending the island's energy isolation and, consequently, its dependence on heavy fuels,” said Ms. Pileidou, noting that this isolation was a significant obstacle. in the wider competitiveness of the economy, while working in parallel on various solutions.

He referred in particular to the liberalization of the electricity market next year, the plans for energy storage systems and the construction of the liquefied natural gas terminal in Vasiliko, the completion of which is expected by the end of 2022.

Messages to Turkey from Steinic

For his part, the Israeli Minister stressed that today's ceremony is “a sign of friendship and alliance, a kind of special alliance between our small countries, the three Republics in the Eastern Mediterranean, Greece, Cyprus and Israel.”

He noted that the tripartite cooperation between the three countries is being strengthened and now the natural interconnection between the electricity networks is progressing.

“We are talking about two projects, one for which we have already signed an intergovernmental agreement and of course the Eastern Mediterranean Gas Pipeline and the other the electricity interconnection, Euro Asia Interconnector,” he added.

The Israeli Minister also referred to tomorrow's meeting in Cairo, in the framework of the Eastern Mediterranean Gas Forum, in which, in addition to the three countries, Egypt, Italy, Jordan and the Palestinian Authority participate, while there are applications from France, while the US wants to join under observer status.

“So there are three of us, but it is also a wider cooperation in the region and who knows, maybe one day another country, located north of here, will want to join the regional cooperation and live peacefully a nice cooperation with the rest. “And this would certainly be a good development, if one day it happened”, he concluded.

A project of historical importance

In his greeting, the Greek Minister of Environment and Energy described the project as of historic importance, as it aspires to become the first two-way electric highway with increasing volume of green energy from the eastern Mediterranean to the single (European) electricity grid, while at the same time terminating the energy isolation of Cyprus and electrical isolation of Israel.

Although the idea of the electrical interconnection dates back to 2012, he added, the project is more mature and more competitive as it approaches its final investment decision.

“The electricity interconnection is also a project that reaffirms the cooperation of our three countries, which took a systematic form almost ten years ago, together with the Eastern Mediterranean Gas Pipeline and the evolving cooperation in the field of security and I strongly believe that the Euro “Asia Interconnector will become one of the most important examples of the deepening of our cooperation”, concluded Mr. Skrekas.

Source: www.philenews.com

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