įormer Cyprus Foreign Minister and head of the European Parliament Foreign Affairs Working group Ioannis Kasoulides joined the EuroAsia Interconnector on March 30, 2018, as Chairman of the Strategic Council. 2019), both reiterated their countries’ support in the Israel-Cyprus-Crete electricity interconnection project, the PCI 3.10 EuroAsia Interconnector. Greek Energy and Environment Minister Kostis Hatzidakis and Israeli Energy Minister Yuval Steinitz, during the 25th UN Climate Change Conference in Madrid (10 Dec. On Decemtransmission system operator Elia announced the conclusion of a strategic alliance agreement for the development and implementation of the 2,000 MW interconnector. On May 12, 2017, the Greek Prime Minister Alexis Tsipras met the State Grid Corporation of China Chairman Shu Yinbiao in Beijing, and CEO Euroasia Interconnector Nasos Ktorides supported the timely implementation of EuroAsia Interconnector. ENTSO-E calculated that expected reduction of CO 2 is between 1.3 and 6.8 million tonnes each year, or between 21% and 110% of total emissions of Cyprus. Īccording to ENTSO-E's analysis, the interconnector will contribute to social and economic welfare between €580m and €1.12 billion in each year. Regulatory approval of electricity interconnection between Cyprus and Greece was completed on October 10, 2017. Connecting Kofinou, Cyprus to Hadera, Israel and Korakias, Crete, Greece the EuroAsia Interconnector is a major Project of Common Interest of the European Union and a priority Electricity Highway Interconnector Project, as an energy highway bridging Asia and Europe. Support for the so-called East Med pipeline project has waned amid questions over its feasibility as well as its adverse impact on the environment.Ĭypriot President Nicos Anastasiades said last week that studies on the pipeline’s feasibility were still ongoing, but other alternatives are open to get gas to markets.Īmong the more likely options is to convey Cypriot gas to Egyptian processing plants where it would be liquefied for export by ship.The EuroAsia Interconnector is a HVDC interconnector between the Greek, Cypriot, and Israeli power grids via the world's longest submarine power cable (310 kilometres (190 mi) from Israel to Cyprus and 898 kilometres (558 mi) from Cyprus to Greece, for a total of 1,208 kilometres (751 mi)). The move toward an electricity cable link appears to have supplanted plans for a potential pipeline connection between the three countries to convey gas from existing and potential deposits off Cyprus and Egypt to Europe through Greece. The cable’s first phase is expected to be completed by 2025. The agreement aimed to expedite permits and approvals for feasibility studies and to help the three countries’ national electricity coordinators to cooperate on how best to move forward. Pilides and her Greek and Israeli counterparts signed an agreement last October to speed up technical work on the cable dubbed the “Eurasia Interconnector.” Pilides said a study shows that the cable in combination with power storage facilities could push Cyprus’ use of renewable energy sources above 50 percent by 2030. With the cable’s completion, it’s expected that more investment will flow into renewable energy sources enhancing the energy mix of Greece, Cyprus and Israel. Pilides said beyond the project’s geopolitical weight, it will ensure Cyprus’ energy security, boost competitiveness in the power supply sector and help the island nation more easily transition to a green economy.
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