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Economy

Greece Signs MoU with Egypt on Electricity Interconnection

ATHENS — Environment and Energy Minister Kostas Skrekas on Wednesday signed a memorandum of understanding (MoU) with the Electricity and Renewable Energy Minister of Egypt, Mohamed Shaker El-Markabi, on establishing an electricity interconnection between Greece-Egypt.

Both ministers agreed to set up negotiating teams that will examine the prerequisites for creating an energy interconnection of the two countries.

Skrekas said that the MoU indicates that the strategic cooperation between Greece and Egypt for the deepening of bilateral relations is bringing results. It is an initiative that will strengthen the country's energy security, with protection of the electricity network and a further integration of Renewable Energy Sources. At the same time, it promotes the method of the Greek government's energy policy in the region of the southeastern Mediterranean, as a follow up to the trilateral cooperation between Greece, Cyprus and Egypt and the respective 3+1 cooperation between Greece, Cyprus, Israel and the USA.

The Greek minister also informed his Egyptian counterpart about the MoU that he signed on March 8 with his counterparts from Cyprus and Israel on an electricity interconnection of the three countries via the EuroAsia Interconnector cable.

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