Israel, Cyprus, and Greece announced on Monday their commitment to strengthening energy cooperation and exploring methods to transport East Mediterranean gas to Europe, while also considering the interconnection of electricity grids, as reported by Reuters. Significant gas discoveries have been made in the eastern Mediterranean over the past decade, primarily off the coasts of Israel and Egypt. Interest in these resources has surged since Russia’s invasion of Ukraine disrupted gas flows to Europe.
Israeli Prime Minister Benjamin Netanyahu, speaking to reporters in Nicosia after a trilateral summit with Greek Prime Minister Kyriakos Mitsotakis and Cyprus President Nikos Christodoulides, stated, “We will have to decide soon about how Israel exports its gas, and the same decisions have to be made by Cyprus. We are looking at the possibility of cooperating on this.” Netanyahu added that these decisions are likely to be made within the next three to six months, with a preference for a timeframe closer to three months.
Earlier this year, Cyprus proposed expediting the supply of gas to the European market by establishing a short pipeline connecting Israel’s East Mediterranean gas fields to a liquefaction facility on Cyprus before onward shipment to Europe.
“We agree that natural gas and renewable energy are key pillars of cooperation in the region, especially in light of recent geopolitical developments,” stated Christodoulides. “Especially in Europe, this dictates the need for energy diversification and increased interconnectivity.”
Netanyahu also highlighted Israel’s keen interest in participating in the planned subsea electricity link, the EuroAsia Interconnector, which has support from the European Union. This subsea cable is envisioned to transmit up to 2,000 megawatts of electricity, connecting grids from Israel and Cyprus to Greece. The Israeli leader expressed, “We would like to have it connected, obviously, to Israel, and possibly to the east of Israel.”
