Prime Minister Kyriakos Mitsotakis on Wednesday said that an agreement between Greece and Egypt to set up undersea power interconnectors, the first such infrastructure in the Mediterranean, was crucial to Europe’s energy security.
“This is absolutely critical for the stability of the European grid,” Mitsotakis said during a fireside chat with world-renowned development economist Jeffrey Sachs on the second day of the 1st Athens ESG & Climate Crisis Summit held at the Stavros Niarchos Foundation Cultural Center.
“The electricity produced in Egypt needs to find its way into the European grid,” Mitsotakis said.
“This project will go ahead,” he said, explaining why an agreement signed between Athens and Cairo last year designating an exclusive economic zone in the eastern Mediterranean “is so geopolitically important.”
“We do not need to ask anyone to interconnect our grid with Egypt,” he said.
The Greek premier said he hoped that projects like the subsea power link receive European support
“They are absolutely indispensable for the future of the European grid,” he said.