![]() ![]() The two Eastern Mediterranean neighbors have worked together in recent decades to address joint economic and security concerns, including a 2020 maritime agreement sketching their respective exclusive economic zones. ![]() With ties spanning back to the time of Alexander the Great, Egypt and Greece currently share friendly relations. Gas processing facilities are beginning to process huge amounts of fuel from gas fields in Israel and Cyprus. In 2015, the country signed a $9 billion contract with Siemens to build gas power plants. Several additional unnamed consultancies from Greece, Belgium, China, and the United States are reportedly also on the shortlist for the bidding process.Įgypt is slated to become a regional energy hub, with an energy output that will greatly benefit Greece and Cyprus. The current shortlist of candidates for the consulting contract include Électricité de France, a multinational electric utility company Elia Grid International, a global consultancy CESI, an Italian technical consulting company DNV, a Norwegian-German technical consulting Lahmeyer International, an engineering consultancy and ESB International, a Dublin-headquartered engineering consultancy. The award will be an early step forward for the project that aims to identify the financial and technical requirements of the power infrastructure initiative and to determine the ideal route for a cable connection. The intention to award a contract to a consulting firm was announced in January by Mohamed Shaker, Egypt’s Minister of Electricity and Renewable Energy. The project will contribute to an EU target of 10% electricity interconnection among member states and has the potential to significantly reduce harmful greenhouse gas emissions via promotion of renewable energy sources. The EuroAfrica Interconnector is a collaborative project set to create an underwater electricity connection that will link the electrical grids of Egypt and Greece through Cyprus. 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.A consultancy will soon be chosen to conduct the technical and economic feasibility study for a $4 billion joint intercontinental power connection project. 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. NICOSIA: Cyprus, Israel and Greece signed an initial agreement on laying the world´s longest undersea power cable linking their electricity grids. ![]()
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