The way for the tripartite meeting of the Ministers of Energy of Greece Costas Skrekas, of Cyprus Natasa Peleidou and of Israel Karin Elharar is likely to open today the corresponding meeting in Athens of the Ministers of Foreign Affairs of the three countries.
According to the OT, preparatory work is already underway between the three governments so that energy cooperation issues can be raised in Jerusalem, most likely during Holy Week.
The Ministers of Energy of Israel, Greece and Cyprus are expected to discuss on the occasion of the developments in the war in Ukraine issues that enhance the energy security of their countries but mainly the formation of an alternative source of natural gas supply for the EU.
EastMed
The discussion between the three ministers on the EastMed gas pipeline project will be interesting, information says. The project seems to be returning to the forefront after the strategic choice of the EU to become independent of Russian gas. It is recalled that before the war in Ukraine the US had withdrawn its political support from this project.
Indicative of the dynamics acquired by the pipeline, which aims to transport quantities of natural gas from the fields of Israel and Cyprus to the EU are the recent statements of the Italian Prime Minister Mario Draghi who stressed the need to study this project after the events of the last two months. It is recalled that based on the plans made by the consortium of the companies DEPA and Edison, the pipeline is going to end in Italy. He also noted that after the war in Ukraine, assessments of the viability of the project have changed radically.
EastMed has also come to the fore following discussions in Jerusalem and Ankara over the development of a pipeline to transport gas through Turkey. This is an extremely difficult task, since according to sources, as it encounters the obstacles of the EEZs of Cyprus and Syria.
The electrical interface
The electricity interconnection of the three countries is also on the agenda of the tripartite meeting of the energy ministers.
The European Commission has already approved the financing of the part of the electricity interconnection Greece – Cyprus with resources of 657 million euros.
Israel attaches great importance to its electricity interconnection with Cyprus and Greece in order to obtain an alternative source of electricity.
Latest News
Sonoco Paper Mill Plants Close After 30 Years in Greece
The shut down of the two paper mills in northern Greece comes a week after a glass plant closed in Athens
BoG: Private Deposits Down by 1.068bln Euros in Feb. 2024
Corporate deposits decreased by 912 million euros, compared to a decrease of 3.167 billion euros in the previous month
Greeks’ Buying Power Second Lowest in the EU
Greeks’ purchasing power is under pressure, ranking 26th among 27 EU member states.
Greek FinMin Says Digital Work Card Tackling Undeclared Work
Greece's recently launched digital work card aimed at tackling undeclared labor has already started to produce results, said Economy and Finance Minister Kostis Hatzidakis
MSC Cruises: More than 400 Visits to Nine Greek Destinations
MSC Cruises, a subsidiary of international shipping line Mediterranean Shipping Company S.A, will be sailing to Greek ports as of this month, expanding operations in the region year-round
Eurostat: Greece Among Cheaper Hourly Labor Cost Zones
In contrast, the countries that posted the highest hourly labor costs are Luxembourg (53.9 euros), Norway (51.9 euros), Iceland
GSEVEE: Economic Sentiment Indicator in Greece Down in Q2 2023
The drop follows a significant uptick in the ESI in the second half of 2022 (69.5 units) and a slight decline in the first half of 2023 (66.7 units)
Manpower Report: Sectors in Greece that Have Achieved Full Gender Equality in the Workplace
Greece surpasses this with 45%, showcasing progress but also room for improvement. Sectors like Consumer Goods and Services lead with 69% reporting full equality globally
Bank of America (BofA): Three Reasons Greek Economy Outperforms EC Average
BofA projects growth of 1.1% in 2024 and 1.7% in 2025, compared to forecasts for eurozone growth at 0.4%/1.1%, respectively
UniCredit: Greece’s Economy Set to Regain Momentum
This projection is based on the understanding that certain factors that hindered growth in the latter part of the preceding year, such as flood-related agricultural losses, abrupt adjustments in housing investments, and postponed public projects, were temporary setbacks