South Cyprus, Israel and Greece have signed a Memorandum of Understanding (MoU) on cooperation in the fields of energy and water.
Speaking after the signing of the MoU, South Cyprus Minister of Energy, Commerce, Industry and Tourism Yiorgos Lakkotrypis said “this is a monumental moment for the cooperation among the three countries”.
“The MoU is a framework which will determine the number of activities that the countries have agreed to jointly pursue, such as energy security supply, environmental concerns and a number of other issues which are common for us three”, he added.
Lakkotrypis further said that during their meeting they also discussed the potential project of interconnecting the three countries with an electric cable.
“We have reiterated our commitment to try to see and facilitate the project through, especially since it’s a project of common interest of the European Commission”, he pointed out, adding that “through this project we aim that we will lift Cyprus’ energy isolation, something which will help the country become more competitive by introducing cheaper electricity”.
Replying to a question about other future projects, Lakkotrypis said there were three projects of common interest, initially approved by the European Commission. According to the Greek Cypriot minister, the first is the connection of an electricity cable between the three countries, the second is the feasibility of a pipeline from the East Mediterranean to Europe via Greece and the third one is the gas storage pipeline that will enhance the strategic resources of South Cyprus, Israel and other European countries such as Greece.