ECONOMY

Energy cooperation with Israel and Cyprus

Energy cooperation with Israel and Cyprus

The repercussions of the international crisis on the energy market, the progress in building new infrastructure to increase energy security in the Eastern Mediterranean and the prospects of supplying Europe with natural gas from the region’s reserves were discussed in Jerusalem on Monday, at a trilateral meeting of the energy ministers of Greece, Israel and Cyprus.

Greek Environment and Energy Minister Kostas Skrekas held talks with his Israeli and Cypriot counterparts, Karine Elharrar and Natasa Pilides, respectively, on the effects of the international energy crisis, which has escalated due to the Russian invasion of Ukraine.

The three ministers also talked about the deepening of trilateral strategic cooperation and the flagship projects that are being promoted in the region of the Eastern Mediterranean, which will boost energy security and contribute to a diversification of energy sources and supply routes, such as the EuroAsia Interconnector linking the Greek, Cypriot and Israeli power grids and the EastMed natural gas pipeline.

The possibility of transporting LNG by ship from the Eastern Mediterranean to European markets by taking advantage of the natural gas liquefaction facilities in Egypt was also examined at the meeting.

The ministers further agreed to examine the possibility of an LNG terminal in Cyprus in order to make optimal use of the natural gas reserves in the Eastern Mediterranean.