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EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

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NICOSIA, March 21, 2019 – EuroAsia Interconnector is grateful to the leaders of Cyprus, Greece and Israel for their commitment to regional cooperation and energy security, as declared at the Trilateral Summit in Jerusalem, Israel, on March 20, 2019, with the participation of U.S. Secretary of State Mike Pompeo.

EuroAsia, the official project promoter of the flagship European Project of Common Interest (PCI) is tasked with connecting the electricity grids of Israel, Cyprus, Crete and Attica in mainland Greece with the European system.

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EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

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EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

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EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

Expand

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

Expand

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

EuroAsia Interconnector welcomes Cyprus-Greece-Israel-US firm support for energy security

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Israeli Prime Minister Benjamin Netanyahu, Cyprus President Nicos Anastasiades and Greek Prime Minister Alexis Tsipras stated in their joint declaration:

“The governments of the United States, the State of Israel, the Hellenic Republic and the Republic of Cyprus met [March 20] in Jerusalem to affirm their shared commitment to promoting peace, stability, security and prosperity in the Eastern Mediterranean region. Secretary Pompeo underlined U.S. support for the trilateral mechanism established by Israel, Greece and Cyprus, noting the importance of increased cooperation.”

“The leaders agreed to increase regional cooperation; to support energy independence and security; and to defend against external malign influences in the Eastern Mediterranean and the broader Middle East. They welcomed the recent natural gas find in the Eastern Mediterranean and its potential to contribute to energy security and diversification.”

The EuroAsia Interconnector remains committed to the timely implementation of the subsea cable project. The project promoter is moving ahead with the construction of the first phase of the project (Stage1 1,000MW) the Cyprus-Crete and Crete-Attica segments as approved by the National Regulatory Authorities of Cyprus and Greece as well as the European Commission, in full compliance with the provisions of the TEN E Regulation for trans-European energy networks (Regulation EC 347/2013) and in parallel with the facilitation process initiated by the European Commission.

About the EuroAsia Interconnector:

The Project Promoter remains committed to the following timeframes for implementation of the EuroAsia Interconnector:

• PCI 3.10.3-Internal line between Korakia, Crete (GR) and Attica region (GR) – June 2022
• PCI 3.10.2 – Interconnection between Kofinou (CY) and Korakia, Crete (GR) – December 2023

The EuroAsia Interconnector electricity link provides substantial social and economic benefits to the citizens of the involved countries, ends the energy isolation of Cyprus (the last isolated European Union member state) and Greece’s largest island – Crete, and ensures the security of supply, while creating an alternative electricity corridor connecting the East Mediterranean to Europe.

The EuroAsia Interconnector, as an EU Project of Common Interest, is eligible to receive grants of up to 50% of the total construction cost (including the Crete-Attica link) from the “Connecting Europe Facility” (CEF) and additional facilities from the European Investment Bank (EIB) and other EU institutions.

Within this framework, the project promoter has prepared the necessary application for submission to the Innovations and Networks Executive Agency (INEA) and this is one of the critical stages for the progress of the project.

The unhindered implementation of the agreements on our part, reiterates the EuroAsia Interconnector’s firm commitment to the timely implementation of the project, for the benefit of the citizens of Greece, Cyprus and Israel.

Download Announcement English (pdf)

Download Announcement Greek (pdf)

Media enquiries: [email protected]

More about EuroAsia: www.euroasia-interconnector.com | www.twitter.com/EuroAsia_HVDC