Energy MoU between Cyprus, Greece and Israel was signed in Nicosia, Cyprus on Thursday. The memorandum of understanding (MoU) was signed by Cypriot Energy Minister George Lakkotrypis, his Greek counterpart Yannis Maniatis and Israel's Silvan Shalom.
Lakkotrypis said that the signing of the energy MoU is a monumental moment for the cooperation between the three countries. Besides energy, the memorandum covers the area of water resources. “The MoU is a framework through which it will determine the number of activities that the countries have agreed to jointly pursue such as the energy of security of supply, environmental issues and a number of other issues which are common for the three,” Lakkotrypis added.
The Cypriot Minister revealed the wish of the three countries to be interconnected through an underwater electric cable. The cable will link Israel and Cyprus's grids and it will continue on to Crete, which will make it possible to supply electricity to European countries.
Greek energy Minister Maniatis added, “without a doubt developments in the field of energy, and especially the exploitation of hydrocarbon resources as well as the construction of a pipeline for the transport of natural gas and of an underwater high tension cable for electricity that will connect Asia with Europe, constitute an important factor for stability in the Eastern Mediterranean and for the prosperity of the people living in the three countries.”
The memorandum also states that the countries will cooperate to protect regionally important infrastructures in the Mediterranean where natural gas fields are located.
Shalom described the energy MoU as a historic agreement which demonstrates “the strong and tightening relations between the countries.” The Israeli Minister added that, “the electric conduit can easily become a cable which will supply and export electricity to the European energy market, and provide us with energy security.”