Cyprus and Egypt sign agreement to speed up connection to electricity grid
An undersea cable connecting the power grids of Cyprus and Egypt could be essential in helping the two countries switch to a green economy and meet their commitments to tackle climate change, the Cypriot minister said on Saturday. Energy.
Minister Natasa Pilides said a memorandum of understanding she signed with Egyptian Minister of Electricity Mohamed Shaker El-Markabi outlines the planning, development and implementation of the project.
“Strengthening our electricity grids and continuing to integrate renewable energies into our respective energy mix, improving the security of our energy supply and enabling us to become energy exporters are just some of the tangible benefits, ”said Pilides.
The agreement aims to speed up permit approvals, feasibility studies and construction as well as better coordinate electricity regulators and transmission system operators in the two countries. A working group of experts from both countries will monitor the progress of the plan.
Cyprus and Egypt have forged closer ties in recent years following the discovery of natural gas deposits in the waters between neighbors in the eastern Mediterranean.
The two countries are also working on plans to ship the gas discovered in Cypriot and Israeli waters to Egyptian processing plants, where it would be liquefied and exported by ship to European and Asian markets.
Earlier this year, Israel, Cyprus and Greece signed an agreement to speed up technical work on connecting the three countries’ power grids with a 2,000 megawatt submarine power cable. The first phase of the project should be operational by 2025.