Thursday October 14, 2021
Via Cyprus to Greece
Egypt plans power cables through the Mediterranean
Sun and natural gas make Egypt a promising partner for energy supply. Soon the electricity will also flow to Europe – with the help of an undersea cable through the Mediterranean Sea. The project should not only relieve the environment, but also contribute to Europe’s independence.
Egypt, Greece and Cyprus want to establish an important connection for their electricity networks with a nearly 1,400-kilometer power cable on the seabed of the eastern Mediterranean. The energy ministers of Greece and Egypt signed a corresponding declaration of intent in Athens. As the Greek government also announced, once the cable has been completed, electricity from Egypt will first be directed to Cyprus and then to Crete and thus to the EU. Cyprus is due to sign the same document on Friday, the Cypriot state broadcaster reported.
The project is significant both for the environment and for Europe’s independence from energy supplies from Russia, said energy experts on the Greek state broadcaster. Egypt can generate electricity with large solar energy collectors. The country also has large natural gas reserves off the coast of the port city of Alexandria and can use it to produce electricity. According to estimates by the Athens business press, the new energy connection could be completed by 2023.
The company “Euroafrica Interconnector” will also try to get financial support from the EU, reported the Greek state broadcaster. Economic experts in Athens expect costs of 2.5 billion euros. In the region of the Eastern Mediterranean, work is already underway on another power cable, through which electricity from Israel will be conducted via Cyprus and Crete and thus also into the EU. This connection is funded by the EU with 647 million euros and should be ready in 2023.