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Egypt-Europe 2000MW electricity cable to be fast-tracked

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Cyprus and Greece are to sign a memorandum of understanding to intensify efforts to promote the 2,000 MW EuroAfrica Interconnector electricity cable linking Egypt’s power grid to Europe, via Cyprus and Crete.

Meeting on the sidelines of the 8th trilateral leaders’ summit in Nicosia, Cyprus Energy Minister Natasa Pilides and her Greek counterpart Kostis Hatzidakis affirmed their intention to sign the MoU between Egypt, Cyprus and Greece.

In a statement after their meeting at the Presidential Palace Wednesday, Pilides said the two ministers had a “constructive discussion on energy matters, such as the involvement of both countries in the East Mediterranean Gas Forum, as well as the latest developments on the Projects of Common Interest – the EastMed gas pipeline and the EuroAsia Interconnector.”

Concluding the trilateral summit, host President Nicos Anastasiades, flanked by Egypt’s President Abdel Fattah El-Sisi and Greece’s Prime Minister Kyriakos Mitsotakis, said the summit “shows that our cooperation is based on mutual respect and a strategic understanding of the benefits this provides.”

“We discussed ways to further enhance our cooperation and reviewed the progress in a series of sectors, such as energy.

We reiterated our commitment to cooperate in the area of natural gas and highlighted the importance of the construction of the EuroAfrica Interconnector electricity project,” said Anastasiades.

In their joint declaration, the three leaders said they discussed a broad range of issues and reiterated the importance of enhancing efforts in promoting peace, stability, security and prosperity in the eastern Mediterranean.

They reaffirmed the importance of the establishment of the EuroAfrica Interconnector project, as an electricity interconnector between the grids of Egypt, Cyprus and Greece “that promotes the trilateral cooperation and enhances the security of energy supply”.

“Not only of the countries involved but also of Europe, as it will create a highway for the transmission of significant amounts of electricity generated from gas from the eastern Mediterranean fields but also from renewable energy sources.”

The 1,396km subsea cable, with a 2,000 MW capacity costing over €1 bln, is scheduled for completion by December 2023.

“The EuroAfrica electricity Interconnector constitutes an important component of the strategy to accelerate the development of the eastern Mediterranean energy corridor as a new alternative source of energy supplies from the region to the European continent and vice versa.

“In this regard we look forward to the swift signing by our respective ministers, of a memorandum of understanding which sets forth the framework of cooperation to enable the timely implementation of the project, reflecting our shared commitment towards this goal.”