Eastern Mediterranean could provide key energy corridor

NICOSIA, Cyprus AP - The eastern Mediterranean can provide a key energy corridor to Europe through a planned electricity cable connecting the power grids of Cyprus, Greece and Israel and a potential natural gas pipeline, the three countries' top diplomats said on Friday.

The three foreign ministers met in the Cypriot capital as part of a series of high-level trilateral meetings aimed at deepening a partnership that was founded on the discovery of substantial offshore natural gas deposits.

The full potential of the region will be a gamechanger, according to the Cypriot Foreign Minister Constantinos Kombos. We aim to promote a reliable and sustainable energy corridor from the Eastern Mediterranean basin to Europe. The work hasn't started on either the cable — which will be partly funded by the European Union — or the gas pipeline, which has been discussed for years but is still at the feasibility study stage.

The projects have gained added weight and urgency in light of Russia's war against Ukraine and the need for energy diversification and increased interconnectivity, according to the Cypriot foreign minister. A 2,000 megawatt undersea electricity cable known as the EastMed gas pipeline and the EurAsia Interconnector are two strategic options on our energy agenda, according to Kombos. The Greek Foreign Minister Nikos Dendias said that the EU's engagement in a regional forum created to promote cooperation on energy generation showed that the eastern Mediterranean plays an important role as an alternative energy corridor. We talked about the East Med pipeline, as you would expect us to do, and also the strategic importance of the Eurasian interconnector between Greece, Cyprus, Israel, and also an invitation to Turkey — Greece's neighbor and longtime regional rival to join in as long as it heeds international law.

Israeli Foreign Minister Eli Cohen said that his country attaches special importance to renewable energy.

The EU's Connecting Europe Facility, which bankrolls infrastructure projects, will provide funding for a third of the EurAsia Interconnector's 1.6 billion euro $1.74 billion price tag.

There are still feasibility studies on the proposed 1,900 kilometer 1,300 mile EastMed pipeline that isn't done yet. The project has fallen out of favor with planners in recent years after U.S. officials declared it not viable.

It may have received a second wind in the wake of Russia's invasion of Ukraine last year that forced Europe to scramble for alternative sources of energy.

Cohen added that Israel would boost military cooperation through joint military exercises and arms procurements, while information sharing between the three countries would be an important factor for the stability of the region. Cyprus will host a meeting of the three countries later this year.