Israel, Greece, Cyprus sign new energy MOU

The memorandum also states that the countries will cooperate to protect regionally important infrastructures in the Mediterranean where natural gas fields are located.

Minister Energy and Water Resources Silvan Shalom today signed in Nicosia a tripartite energy memorandum of understanding with Cypriot Minister of Agriculture, Natural Resources and Environment Nicos Kouyialis and Greek Minister for the Environment, Energy and Climate Change George Lakkotrypis.

Shalom's aides called the memorandum "historic", and that it had far-reaching importance for the Israeli energy market, providing the three countries with energy security in the coming years. The memorandum includes a joint declaration of intent to implement within three years a Euro-Asiatic to lay an electric cable to link Israel and Cyprus's grids. The conduit will continue on to Crete, which will make it possible to supply electricity to European countries.

Shalom's aides said that this would help solve southern Italy's severe electricity shortage. "The tripartite agreement was reached after many discussions, and demonstrates the strong and tightening relations between the countries," said Shalom in Nicosia. "The electric conduit can easily become a cable which will supply and export electricity to the European energy market, and provide us with energy security."

The memorandum also states that the countries will cooperate to protect regionally important infrastructures in the Mediterranean where natural gas fields are located.

The memorandum also covers water issues. Kouyialis said Cyprus and Israel have established a successful cooperation in desalination as in three of our four permanent desalination plants, Israeli companies were involved." He added, A new era of cooperation starts today in the field of sewage treatment and waste water reuse that will help Cyprus improve its water balance, as substantial and constant quantities of recycled water will be utilized in the best possible way.

On this point, Shalom said, "Israel would like to give any help needed. We are very happy that an Israeli company is involved here." On water security, he said, We believe that it is necessary these days, even though Cyprus is not facing the same threats that Israel is facing from terrorists."

Published by Globes [online], Israel business news - www.globes-online.com - on August 8, 2013

Copyright of Globes Publisher Itonut (1983) Ltd. 2013

5 Comments
View comments in rows
Update by email about comments talkback
POST
Comments

 
Twitter Facebook Linkedin RSS Newsletters Israel Business Conference 2018