Energy Min. on Tripartite Energy Meeting: We are accelerating and deepening strategic cooperation with Cyprus and Israel

The effects of the international energy crisis, which has escalated since the Russian invasion of Ukraine, were discussed by the Minister of Environment and Energy, Costas Skrekas, during the tripartite meeting between Greece, Cyprus and Israel with his counterparts Natasa Peleidou and Karine Elharrar.

The meeting also focused on the deepening of the tripartite strategic cooperation and the emblematic projects promoted in the Eastern Mediterranean region, which will enhance energy security and contribute to the diversification of energy sources and supply routes, such as the EuroAsia Interconnector project for the Greece-Cyprus-Israel electricity interconnection and the EastMed gas pipeline.

The Tripartite Summit considered the possibility of transporting LNG by ships from the Eastern Mediterranean to European markets, utilizing the gas liquefaction facilities available in Egypt. The ministers also agreed to investigate the construction of an LNG station in Cyprus for the optimal exploitation of the natural gas fields of the Eastern Mediterranean.

After the Summit, Mr. Skrekas stated: “With my counterparts from Israel and Cyprus, we discussed ways to strengthen our strategic cooperation in energy, which has become even more important after the Russian invasion of Ukraine. which feeds the worst energy crisis in decades. The exploitation of the natural gas fields of Israel and the Eastern Mediterranean countries can make a decisive contribution to the diversification of energy sources and routes and to the independence of Europe from the imports of Russian fossil fuels. We talked about the flagship projects we are promoting in the region which will enhance the adequacy of supply and can lead to a gradual de-escalation of high energy costs. Such as the Greece-Cyprus-Israel electricity interconnection, the EastMed gas pipeline and the possibility of transporting liquefied natural gas from the Eastern Mediterranean to European markets, with the utilization of the Egyptian facilities and the construction of a new LNG station in Cyprus. These projects will benefit our countries, the wider region and Europe, as they enhance energy security and our cooperation with our strategic partners, while promoting security, prosperity and stability in the wider region.”