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.Ĭypriot 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 new link, which will traverse the mountainous Mediterranean seabed, comes at a cost of approximately 900 million. 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 nations of Greece, Israel and Cyprus signed an initial agreement on Monday to build the world’s longest and deepest underwater power cable in an effort to link the electrical grids of the three nations. The EuroAsia Interconnector comprises the electricity interconnection between the grids of Israel, Cyprus, Greece through a subsea DC cable and with HVDC. Stavros Ioannides/PIO/Handout via REUTERS Greece on Saturday linked the island of Crete to the power grid of the Peloponnese peninsula via an undersea cable, a major step in the country's drive to cut its reliance on imported fossil fuel. This week Israel, Cyprus, and Greece agreed to speed up technical work on the Euro-Asia interconnector, the world’s longest and deepest underwater power cable that will traverse the Mediterranean. ![]() Cyprus Minister of Energy, Commerce and Industry, Natasa Pilides and Israeli Energy Minister Yuval Steinitz, and the Greek Minister of Environment and Energy, Kostas Skrekas participating via videoconference sign an agreement about the "EuroAsia Interconnector" Project at the Presidential Palace in Nicosia, Cyprus March 8, 2021.
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