An agreement was signed between the Prime Minister of Greece Alexis Tsipras, the President of Cyprus Nikos Anastasiades and the Prime Minister of Israel Benjamin Netanyahu on Thursday, for an electricity cable to link the three countries by 2019 and natural gas to be transferred to Greece by 2022 and from then on to the rest of Europe.
The agreement aims to support joint projects in the energy sector and contribute to the energy security of the three countries.
A trilateral committee has been formed that will determine whether the natural gas will transported by an underwater pipeline or by ship. This new committee will begin working in time for the next top-level meeting in six months.
Special economic and geopolitical importance
The tripartite Greece – Cyprus – Israel agreement is considered of special economic and geopolitical importance by Greek government sources. This agreement, which is the result of increasingly frequent contacts last year, is the second, after the tripartite agreement of Greece, Cyprus and Egypt.
Greek government sources said that beneficial partnerships and new development conditions are formed in a number of economic sectors after the signing of this agreement. Greece’s role is upgraded as a factor of stability in the region and the same exists and for Cyprus.
The energy sector is of great importance as the discovery of hydrocarbon deposits in Eastern Mediterranean creates a new dynamic in the region and can act as a catalyst for stability and cooperation.
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