Photo Credit: Rafi Kutz/POOL
The Biden administration has abruptly withdrawn American support for the Eastern Mediterranean (EastMed) pipeline PM Bennett with Pres. Anastasiades of Cyprus (L) and PM Mitsotakis of Greece (R), in Jerusalem January 2022

Israel, Cyprus and Greece will get 657 million euros (more than $730 million) from the European Union to construct a 2,000-megawatt undersea electricity cable to link the power grids of the three nations, said Cypriot Energy Minister Natasa Pilides on Thursday.

Pilides said the investment would allow construction to begin on the cable that connects Cyprus with the Greek island of Crete at the cost of 1.6 billion euros ($1.8 billion), reported the AP.

Advertisement



She said it would ensure energy security in her country and help it transition to a greener economy.

Cypriot President Nicos Anastasiades said the cable “tangibly underscores the significance of the three-way cooperation between Cyprus, Greece and Israel. This is a significant landmark regarding the three countries’ strategic choices which upgrades the region’s energy goals.”

The three countries signed an agreement in October to speed up the project. Called the Eurasia Interconnector, it could replace plans for a pipeline connection among them to transfer gas, according to the report.

Advertisement

SHARE
Previous articleThe Rebbe’s Mission – And Ours
Next articleThousands of Pounds of Unsafe Meats Uncovered in Arab Butcher Shops
www.JNS.org is an independent, non-profit business resource and wire service covering Jewish news and Israel news for Jewish media throughout the English-speaking world.