The European Union has recognized the cable as a “Project of Common Interest”, categorizing it as a project it is willing to partly finance. The Greek operator and Eurasia have been working closely to make sure the two cables link to each other efficiently, an IPTO official said. Greek power grid operator IPTO has started construction of the Crete-mainland part, seen concluding by 2023. ![]() It will cover three sections of the Mediterranean: some 310 kilometres between Israel and Cyprus, about 900 kilometres between Cyprus and Crete, and about 310 additional kilometres between Crete and mainland Greece. With a length of about 1,500 km and a maximum depth of 2,700 metres, it will be the longest and deepest subsea electricity cable to have ever been constructed, it said.Ĭalling the project a ‘2,000 mega-watt highway’, Pilides said the first stage is expected to be operational within 2025. The cable will have a capacity of 1,000-2,000 megawatts (MW) and is expected to be completed by 2024, according to Israel’s energy ministry. The project, called the Euro-Asia interconnector, will provide a back-up power source in times of emergency, said Israeli Energy Minister Yuval Steinitz, who was in Nicosia to sign a memorandum of understanding with his counterparts.Ĭypriot Energy Minister Natasa Pilides said it marked “a decisive step towards ending the island’s energy isolation, and consequently, our dependence on heavy fuels.” Support for the so-called East Med pipeline project has waned amid questions over its feasibility as well as its adverse impact on the environment.Īnastasiades said last week that studies on the pipeline’s feasibility were still ongoing, but other alternatives are open to get gas to markets.Īmong the more likely options is to convey Cypriot gas to Egyptian processing plants where it would be liquefied for export by ship.OCCUPIED JERUSALEM: Cyprus, Greece and Israel Monday signed an initial agreement to build the world’s longest and deepest underwater power cable that will traverse the Mediterranean seabed at a cost of about $900 million and link their electricity grids. The move toward an electricity cable link appears to have supplanted plans for a potential pipeline connection between the three countries to convey gas from existing and potential deposits off Cyprus and Egypt to Europe through Greece. The cable’s first phase is expected to be completed by 2025. The agreement aimed to expedite permits and approvals for feasibility studies and to help the three countries’ national electricity coordinators cooperate on how best to move forward. Pilides and her Greek and Israeli counterparts signed an agreement last October to speed up technical work on the cable dubbed the “Eurasia Interconnector.” Pilides said a study shows that the cable in combination with power storage facilities could push Cyprus’ use of renewable energy sources above 50% by 2030. An anonymous reader quotes a report from Reuters: Cyprus, Greece and Israel on Monday signed an initial agreement to build the worlds longest and deepest underwater power cable that will traverse the Mediterranean seabed at a cost of about 900 million and link their electricity grids. With the cable’s completion, it’s expected that more investment will flow into renewable sources enhancing the energy mix of Greece, Cyprus and Israel. “This is a significant landmark regarding the three countries’ strategic choices which upgrades the region’s energy goals,” the statement said. ![]() ![]() The minister said beyond the project’s geopolitical weight, it will ensure Cyprus’ energy security, boost competitiveness in the power supply sector and help the island nation more easily transition to a green economy.Ĭypriot President Nicos Anastasiades said in a statement that the cable “tangibly underscores the significance of the three-way cooperation between Cyprus, Greece and Israel.”
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