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  • Egypt, Greece and Cyprus sign electricity transfer agreement

Egypt, Greece and Cyprus sign electricity transfer agreement

Oct 21 2021

EGYPT / GREECE / CYPRUS. Three Eastern Mediterranean countries sign a tripartite agreement for the transfer of electrical energy. Egypt, Greece and Cyprus will benefit from an interconnection. “At a time of diversification of energy sources, Egypt could become a supplier of electricity, which will be produced mainly by the sun, and Greece will become a distribution station to Europe,” commented Greek Prime Minister Kyriakos Mitsotakis. The joint declaration issued at the end of the summit in Athens states that “this interconnection strengthens cooperation and energy security not only between these three countries, but also with Europe (…) It will be a means of transferring significant amounts of electricity to and from the Eastern Mediterranean. • The MoU also highlights a desire for “cooperation in the exploration and transfer of natural gas, a catalyst for stability in the region”, as the signatories state. “It is perhaps crucial that we all strive to use this momentum to give a parallel boost to the project to build an offshore pipeline to transport natural gas from the Cypriot “Aphrodite” field to the two Egyptian liquefaction stations of Damietta and Idku,” Abdel Fattah al-Sissi said. For the Egyptian president, “by opening the way for the possible supply of liquefied gas from Egypt to Greece, these measures open the door to the supply of countries in the Eastern Mediterranean, and perhaps also countries in the Western Balkans and Central Europe.”

Source: Econostrum