Israel-Greece-Cyprus energy deal ‘top priority’ this year - JNS

March 28, 2024 / JNS
Etgar Lefkovits 

The three allies plan to link their electrical grids and cooperate on natural gas.

Finalizing a major energy deal that includes connecting the power grids of Israel, Greece and Cyprus and a possible future regional natural gas pipeline linking the eastern Mediterranean allies is a “top priority” for 2024, the Israeli and Cypriot energy ministers said on Wednesday.

The long-awaited accord, which was stalled by the nearly six-month-old war with Hamas in Gaza, will not include Turkey. Ankara has reemerged as one of Israel’s bitterest critics in the wake of the Israeli military campaign triggered by the Oct. 7 terrorist invasion.

The expected agreement comes amid burgeoning relations with both Cyprus and Greece, which have maintained support for Israel throughout the war, and close ties in a variety of fields including energy, defense, tourism, high-tech and cybersecurity.

“Cyprus is a regional ally, and cooperation in the field of energy holds great potential opportunities for both countries,” Israeli Energy Minister Eli Cohen said Wednesday as he hosted his Cypriot counterpart to finalize the accord.

Cypriot Minister of Energy, Commerce and Industry George Papanastasiou said, “Cyprus and Israel share a vision for the eastern Mediterranean with the countries looking at energy as a sector that can facilitate peace, stability and prosperity in the region.”

Electricity cable needs power surge - FINANCIAL MIRROR

16 JULY 2023

With Nicosia hosting the trilateral meeting of heads of state on July 26, Cyprus, Greece, and Israel leaders will meet for the first time – two-re-elected and a newcomer.

Top on their agenda of common challenges will be energy, although cooperation on defence, water and regional conflicts will also be discussed, and relations with Turkey.

As a priority, Prime Minister Benjamin Netanyahu needs help to deal with Israel’s energy deficit, which is expected to hit rock bottom by 2025-2027 due to delays in bringing online new, efficient, and renewables-friendly power stations.

PM Kyriakos Mitsotakis will emphasise that Greece is pushing ahead with its Alexandroupolis energy hub and hopes natural gas flows from the eastern Mediterranean will transform it into a major player, in addition to the solar parks and wind farms mushrooming throughout the country.

EU official: East Med gas can wean bloc off Russian energy - ABC News

October 14, 2022, 8:34 PM

MENELAOS HADJICOSTIS

NICOSIA, Cyprus -- Natural gas from undersea deposits in the eastern Mediterranean can help replace Russia’s diminished supply of the fossil fuel to Europe as the continent also looks to make a quick transition to renewable energy, the European Union’s energy commissioner said Friday.

Commissioner Kadri Simson told the East Mediterranean Gas Forum conference in the Cypriot capital, Nicosia, that the region can play an increasingly important role as a short- to medium-term supplier of gas.

She pointed to a June deal for Israel to send more gas to EU countries through Egypt, which has facilities to liquefy it for export by sea.

Israel, Cyprus and Greece agree to link power grids via subsea cable - REUTERS

MARCH 8, 20212:27 PM

JERUSALEM (Reuters) - Cyprus, Greece and Israel on Monday signed an initial agreement to build the world’s longest and deepest underwater power cable that will traverse the Mediterranean seabed at a cost of about $900 million and link their electricity grids.

The project, called the Euro-Asia interconnector, will provide a back-up power source in times of emergency, said Israeli Energy Minister Yuval Steinitz, who was in Nicosia to sign a memorandum of understanding with his counterparts.

Cypriot Energy Minister Natasa Pilides said it marked “a decisive step towards ending the island’s energy isolation, and consequently, our dependence on heavy fuels.”

The cable will have a capacity of 1,000-2,000 megawatts (MW) and is expected to be completed by 2024, according to Israel’s energy ministry.

Cyprus in talks with ENI-Total on Calypso timetable - CYPRUS MAIL

APRIL 2, 2018

Elias Hazou

The government is in talks with the consortium of ENI-Total regarding their timetable for an appraisal, or follow-up drill at the Calypso gas prospect in offshore block 6, energy minister Giorgos Lakkotrypis said on Monday.

At the same time, he added, the government is discussing with ENI the latter’s broader exploration programme in Cyprus’ Exclusive Economic Zone (EEZ).

“ENI is a big regional player, it has concessions on several[offshore] blocks, and we are discussing with them their exploration programme,” Lakkotrypis told reporters on the sidelines of an event in Nicosia.

In February, ENI announced that it made a discovery of lean gas off the coast of Cyprus after drilling an exploratory well at Calypso. The company said it believed the gas play to hold around 6 to 8 trillion cubic feet.

Energy programme proceeding as planned, president tells oil and gas forum - CYPRUS MAIL

March 27, 2018

Jean Christou

Cyprus is promoting three projects that were selected by the European Commission as projects of common interest, because of their benefits to the European energy market, President Nicos Anastasiades said on Tuesday.

The president was addressing the 9th Mediterranean Forum on Oil and Gas in Nicosia, telling delegates that recently, two of the projects had secured EU funding. Specifically, €101 million will be allocated to the CyprusGas2EU project, while the EastMed Pipeline had been awarded €34.5m for technical studies.

Agreement to link Cyprus, Egypt, Greece via undersea cable signed - CYPRUS BUSINESS MAIL

MARCH 8, 2018
Stelios Orphanides

Cyprus and Egypt have agreed on the route of a 1,707-kilometre sub-sea power cable that will link the grids of the two countries to that of Greece, EuroAfrica Interconnector, the company behind the project said.

The cable, named after the company, “will connect the electricity grids of Egypt, Cyprus, and Greece with Europe has entered the pre-works phase,” the firm said in an emailed statement on Wednesday. “The Egyptian government (is) giving its full support to EuroAfrica Interconnector, transforming Egypt as an electricity hub for Africa and agreed the electricity cable route, the landing point and the site of the HVDC (high-voltage, direct current) converter station”.

Cyprus: The new energy gate of Europe - CYPRUS MAIL

November 5, 2017Charlies Ellinas

The government is giving priority to the exploration and exploitation of hydrocarbons and the development of energy
CYPRUS: The new energy gate of Europe was the title of the 5th Energy Symposium organised by IENE and Financial Media Way (FMW), held in Nicosia on November 1.

Costis Stambolis, executive director of IENE, opening the Symposium praised Cyprus on the achievements of its exploration programme. He added that Cyprus has the potential to play a key role in Europe’s energy and that energy could also be key to the solution of the Cyprus problem.

The Symposium was addressed by President Anastasiades, Demetris Syllouris, Nicos Kouyalis, Giorgos Lakkotrypis and Fidias Pilides. Greek energy minister Giorgos Stathakis also sent a message. The key highlights from these presentations were:

Energy islands: Symbols of transformation and independence - EURACTIV

1 June 2017
Stuart Reigeluth

Malta epitomises the value of islands in leading the transition to cleaner sources of energy, and ultimately in symbolising the potential for energy independence, writes Stuart Reigeluth.

South of Sicily, east of Tunisia, north of Libya, Malta seems far from Europe as the Mediterranean Member State par excellence, encapsulating all the dynamic hybridity of cultural exchange between the different sides of the sea. But it’s not so much its geographic location that make Malta fitting for representing the energy transition, rather that it is essentially a big limestone sitting on an aquifer, meaning that it’s water and energy sources are paramount to its survival.

Like most islands, Malta has been nearly 100% dependent on imported fossil fuels. And in addition, being located on a limestone, Malta relies on numerous desalination plants to provide clean water to its inhabitants and tourists. The problem with desalination is that it takes all the minerals out of the water (most people end up buying bottled water for drinking) and the process is very energy-intensive, which means more pollution and waste if renewables are not integrated properly.

Projects interconnecting energy and geopolitics need to have a market - KATHIMERINI

THURSDAY MAY 25, 2017, 09:43
GEORGE GEORGAKOPOULOS

A host of energy projects, such as TAP, IGB, Turkish Stream and others are under way or in the preparation phase in the Balkans and Black Sea region, and Greece must make the most of them to upgrade its status to energy hub, notes Dr Theodoros Tsakiris, assistant professor of energy policy and geopolitics at the University of Nicosia in Cyprus.

He is taking part in the Balkans & Black Sea Cooperation Forum that opens on Thursday in Serres during a period of frantic planning and project implementation as regards a number of interconnection pipelines and energy networks across the region, with multiple geopolitical and financial implications. He cautions that interconnection projects have to make financial sense to be feasible regardless of their political significance and highlights several projects of energy source diversification that will free the region of various dependencies.

Israel, Cyprus, Greece boost energy ties - NEW EUROPE

Tsipras (L), Anastasiades (C), Netanyahu

DECEMBER 9, 2016 02:01

New Europe Online/KG

Israeli Prime Minister Benjamin Netanyahu, Greek Prime Minister Alexis Tsipras and Cyprus President Nicos Anastasiades held a trilateral summit in Jerusalem on December 8, agreeing to boost energy cooperation.

Tsipras, who was accompanied by Environment and Energy Minister Giorgos Stathakis, said Greece aims to be an energy transit centre for Israeli and Cypriot natural gas to Europe.

The Greek premier said teams from the countries will discuss the East Med pipeline to transport gas from the Israeli and Cyprus offshore gas fields through Greece to other parts of Europe. The project is expected to boost European Union’s energy security, providing a new supply route and source of gas.

Construction of the EuroAsia Interconnector to begin in 2017 - CYPRUS MAIL

October 12, 2016

The official operator of the EuroAsia Interconnector electricity connection, a project approved and supported by the European Commission, announced Wednesday that the technical and economic studies have successfully concluded and work on the 1,520km ‘electricity highway’ that will secure international energy supply will begin in 2017.

Construction work will begin with completion of the first section (Cyprus-Israel) in 2019, the second section (Crete-Attica) in 2020 and the final section of Cyprus-Crete in 2022.

The EuroAsia Interconnector will establish the first electricity corridor between the eastern Mediterranean and the European Union, ending the energy isolation of Cyprus, as well as Crete and Israel, and will vastly contribute to energy supply and security in the region.

Cyprus-Greece-Israel meet anew in December on energy - SIGMA LIVE

Yuval Steinitz, Israel (left), Panos Skourletis, Greece (center),Yiorgos Lakkotrypis, Cyprus (right)

28.09.2016 21:20

Cyprus, Greece, and Israel have decided to meet anew in December on energy matters, after energy ministers from the three countries met in Athens on Wednesday night.

Yiorgos Lakkotrypis (Cyprus), Panos Skourletis (Greece), and Yuval Steinitz (Israel) have focused on the infrastructure, with discussions centred on the EastMed pipeline, which is being designed to transport natural gas from the eastern Mediterranean to Europe through Greece. The three also discussed the electrical interconnection between the three countries through Crete and a new liquefaction natural gas centre to be built in Alexandroupolis.

The three ministers also decided on how to further the projects during the meeting that they had. Reports said that by the end of October the ministers had decided that an economic and technical plan on the underwater pipeline must be prepared.

ENERGY: Greece, Cyprus, Israel electricity highway takes shape - FINANCIAL MIRROR

26 August, 2016

Stages 1 and 2 to cost EUR 3.5 bln, fully funded by EuroAsia Interconnector
The biggest investment in Cyprus is finally taking shape as the final and comprehensive investment dossier has been submitted in Nicosia for the first electricity interconnection license that will provide a secure and stable supply of energy between Israel, Cyprus and Greece.

The project, promoted by the EuroAsia Interconnector in cooperation with the national utilities of the three countries, will also end the energy isolation of these ‘island’ states, that although are part of the regional and global economies, have remained detached from continental electricity grids. 

Israel, Greece, Cyprus mull joint natural gas projects - GLOBES

The top officials from all three Ministries of Energy met to discuss potential - though highly unlikely energy ventures.

20/04/2016, Hedy Cohen

Ministry of Energy director-general Shaul Meridor met Wednesday with his counterparts from Cyprus and Greece to discuss potential cooperation opportunities in the energy sector. The session was a follow-up to a meeting held in the Cypriot capital of Nicosia.

The topics of discussion included the potential of natural gas in the Middle East, the possibility of exporting from the Israeli and Cypriot reservoirs, a natural gas pipeline to Greece, renewable energy, fuel alternatives, the integration of natural gas into public transportation, and the laying of a pipe to channel electricity between Israel and Europe.

Few outcomes in Cyprus-Greece-Israel trilateral summit - EXECUTIVE MAGAZINE

March 4, 2016 - Mona Sukkarieh

Despite being labeled “historic,” the trilateral summit held in Nicosia on January 28 among Cyprus President Nicos Anastasiades, Israeli Prime Minister Benjamin Netanyahu and Greek Prime Minister Alexis Tsipras did not yield concrete results. The 2013 Memorandum of Understanding (MoU) between Cyprus, Greece and Israel formally established the three countries’ will to strengthen energy cooperation and protect important infrastructure. The MoU also included a joint declaration of intent to lay an undersea electric cable linking Israel, Cyprus and Greece (Crete). But political wishes have yet to translate into actual projects. And on that front, the trilateral summit did not make significant advances.

In Nicosia, the three leaders reiterated their “readiness to further explore projects such as the EastMed Pipeline”. The carefully worded statement rules out any commitment, not surprising given the question marks that surround the project, even before a feasibility study is completed. Given the technical challenges, the project carries an exorbitant price tag, which makes its commercial viability doubtful in current conditions.

GE Oil & Gas ready to help Cyprus develop energy sector, executive says - BUSINESS MAIL / CYPRUS MAIL

MARCH 1, 2016

By Stelios Orphanides

GE Oil & Gas, a specialist in the natural gas technology, is in position to help Cyprus develop its natural gas and export it no matter which solution authorities will chose, a company executive said.

“Whether the option is pipeline, floating production storage and offloading, liquid natural gas, small-scale liquefied natural gas, floating liquefied natural gas, GE can provide the right solution that will meet specific requirements,” Bill R. Alashqar, managing director, US Independents, GE Oil & Gas and board member who also sits in the Cyprus Oil and Gas Association board, said in an interview on Tuesday.

Bill Alashqar “As the world will continue to need energy demand will continue to grow,” Alashqar said, adding that his company sees new possibilities in Cyprus and other eastern Mediterranean countries “in this volatile climate”.

‘Tripartite’ gas would be double the price, experts say - CYPRUS MAIL

February 7th, 2016, By Elias Hazou

Despite being talked up by the leaders of Cyprus, Greece and Israel at the recent tripartite confab in Nicosia, the proposed East Med gas pipeline project remains commercially unrealistic, an energy expert has told the Sunday Mail.

The East Med pipeline aims to connect the region’s reservoirs with Greece through the island of Crete.

But for all the hype, also propagated by the press here, the pipeline makes little economic sense, said Charles Ellinas, CEO of e-CNHC (ECP Natural Hydrocarbons Company).

“Both the East Med pipeline as well as the Euro-Asia Interconnector are highly challenged projects,” he observed.

Israel, Greece and Cyprus to explore gas pipeline to Europe | Reuters

Thu Jan 28, 2016
NICOSIA | BY MICHELE KAMBAS

Cypriot President Nicos Anastasiades (C), Israeli Prime Minister Benjamin Netanyahu (L) and Greek Prime Minister Alexis Tsipras shake hands at the Presidential Palace in Nicosia, Cyprus January 28, 2016.

Greece, Israel and Cyprus will explore the possibility of building a natural gas pipeline to Europe, tapping huge gas reserves discovered in the eastern Mediterranean in recent years, leaders of the three countries said on Thursday.

Israel has reported some of the largest gas finds in the past decade and EU member Cyprus confirmed a discovery in 2011, making both potential exporters.

Groups of specialists will be appointed to assess the pipeline idea, and plans are proceeding to create a subsea electricity cable to Europe, Israeli Prime Minister Benjamin Netanyahu told reporters in Nicosia.

Cyprus-Israel-Greece Trilateral Summit Declaration - THE PRIME MINISTER OF ISRAEL

THE PRIME MINISTER OF ISRAEL·THURSDAY, JANUARY 28, 2016

We, Nikos Anastasiades, President of the Republic of Cyprus, Benjamin Netanyahu, Prime Minister of the State of Israel, and Alexis Tsipras, Prime Minister of the Hellenic Republic, having met in Nicosia today, 28th January 2016, have agreed to strengthen the cooperation between our three countries in order to promote a trilateral partnership in different fields of common interest and to work together towards promoting peace, stability, security and prosperity in the Mediterranean and the wider region.

In light of the underlying challenges and opportunities, and given the fluid and unstable situation in the region, our three countries, which share common democratic values, principles, and interests, have, to this end, agreed on the importance for closer cooperation and a coordinated set of policies.

Our partnership is not exclusive in design or nature, and we are ready to welcome other like-minded actors to join our efforts to promote coordination and cooperation, as well as regional peace and stability.