![]() ![]() The Israeli ministry said that the European Union has recognised the cable as a “Project of Common Interest” and was willing to partly fund it. The European Union has earmarked 657 million euros (736 million) for the construction of a a 2,000-megawatt undersea electricity cable that will link the power grids of Israel, Cyprus and Greece. At ABB, we empower people with technology to drive the transformation of industries needed to enable a low-carbon society and address the worlds energy. The project, which is expected to take about four years to complete, was finalized following a conversation between Israeli. ![]() Follow Israel Hayom on Facebook and Twitter. Steinitz said the cable “will allow us to receive electricity backing from the power grids of the European continent in times of emergency and more importantly will also support our ability to significantly increase reliance on solar power generation.” i24 News - Israel, Cyprus, and Greece on Monday signed an initial agreement on laying the world's longest undersea power cable linking their electricity grids. Israel will sign an agreement with Greece and Cyprus by the end of the year to lay a submarine cable that would connect it to the European power grid, Israel Hayom has learned. With a length of about 1,500 kilometres and a maximum depth of 2,700 metres, it will be the longest and deepest subsea electricity cable to have ever been constructed, it said. The cable will have a capacity of 1,000-2,000 megawatts (MW) and is expected to be completed by 2024, according to Israel’s energy ministry. Similarly, Ultra groups following Israeli club, Hapoel Tel Aviv, Greek club. The project, called the Euro-Asia interconnector, will provide a back-up power source in times of emergency, said Israeli Energy Minister Yuval Steinitz, who was in Nicosia to sign a memorandum of understanding with his counterparts.Ĭypriot Energy Minister Natasa Pilides said it marked “a decisive step towards ending the island’s energy isolation, and consequently, our dependence on heavy fuels.” This can be observed in the creation of transnational links such as the. On the potential for gas imports to Cyprus, McPhie said the floating storage and regasification unit in Vassiliko is expected to become operational next year, with a potential capacity of around 2 bcm.Middle East Monitor – Cyprus, Greece, and Israel today signed an initial agreement to build the world’s longest and deepest underwater power cable that will traverse the Mediterranean seabed at a cost of about $900 million and link their electricity grids, Reuters reported. McPhie also underlined that “the deployment of gas resources from the Eastern Mediterranean is an important part of our diversification strategy that we’re working on at the moment.” He explained the trilateral memorandum could potentially increase volumes delivered to the EU from about 5 billion cubic meters today to 7 bcm by the end of the year, and double those volumes going forward. Israel, Cyprus and Greece signed a Memorandum of Understanding (MoU) on Monday regarding a project to link their power grids via the construction of the world’s longest and deepest undersea power cable. ![]() Responding to a question in Thursday’s midday briefing in Brussels on the role Cyprus has to play in the Commission’s energy diversification strategy, McPhie said the memorandum “covers gas from any source in the region and that would include potentially those from EU states.” Commission spokesperson for energy affairs Tim McPhie said the memorandum of understanding signed between the EU, Israel and Egypt on transferring Israeli natural gas to Egypt, where it will be liquefied and transferred to the EU, could potentially include gas from member-states. ![]()
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