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Economy

Greece, Israel Discuss Accelerating EuroAsia Interconnector

ATHENS – Greek and Israeli delegations met in Athens on Monday to discuss speeding up the construction of the EuroAsia Interconnector, a submarine cable connecting the power grids of Greece, Cyprus, and Israel.

Energy & Environment Minister Kostas Skrekas met with Israel Electricity Authority Acting Chairman Yoav Katsavoy, Israel Independent System Operator Ltd CEO & Chief Operations Officer Shiki Fisher, and Director of Natural Gas International Trade at Israel’s Ministry of Energy Orit Ganor.

The connection will use a submarine power cable of 1,214 km in total length to provide an output of 1 GW to the three countries during its initial implementation, and funding of 657 million euros was approved for the project in January 2022 by the European Commission. The project will integrate the three countries’ systems with European networks, contributing to the EU’s target of approximately 10% electricity interconnection between member states, the project’s site explained.

The EuroAsia Interconnector “is a strategically important project that will upgrade the energy security and supply adequacy of all three countries,” noted Skrekas, “helping to reduce dependency on fossil fuel imports and promote the development of renewable energy sources.” Greece, he added, is “emerging as an energy hub for the eastern Mediterranean region and southeastern Europe, while Cyprus is emerging from its energy isolation,” he added.

On the Greek side, also attending were Secretary General of Energy & Mineral Raw Materials Alexandra Sdoukou and Independent Power Transmission Operator (IPTO) President and CEO Manos Manoussakis, along with the EuroAsia Interconnector’s trilateral project team head Theodoros Tsakiris.

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