Cyprus, Israel and Greece focus on energy: We want to sell natural gas to Europe

(Patria) - Cyprus, Greece and Israel agreed at a summit in Nicosia on Monday to deepen cooperation in order to focus on exports to Europe, particularly natural gas and renewable energy sources.

"We agreed that the energy sector, especially natural gas, electricity and renewable energy, represent a solid basis for cooperation in the region," said a joint statement following the meeting of Cypriot President Nikos Christodoulides, Israeli Prime Minister Benjamin Netanyahu and Greek Prime Minister Kyriakos Mitsotakis at the Ninth Trilateral Summit of the countries, AFP reported.

The trio based their eight-year regional partnership on energy wealth in the Eastern Mediterranean and security of supply for Europe.

Israel already exploits offshore gas reserves, while Cyprus has so far untapped energy wealth. Both countries are seeking ways to join forces for exporting natural gas to Europe.

The leaders said they want to promote "energy synergies" such as an electricity interconnector between the three countries and a possible natural gas pipeline, the statement said.

"We reaffirmed the common interest in advancing the prospects for a reliable energy corridor from the Eastern Mediterranean basin to Europe," the statement added.
Netanyahu said that Israel and Cyprus are working on exporting his country's gas reserves to Europe via the island.

Nicosia is considering building a pipeline to transport natural gas from Israel to Cyprus, where it would be used as fuel for power generators or liquefied for further export by ship. Cyprus, Greece and Israel are also involved in building the world's longest and deepest submarine power cable of 2,000 megawatts called the EuroAsia Interconnector, which connects the grids of the three countries with continental Europe.

Mitsotakis said the energy issue is of "common interest."

"So, we have a great interest in seeing how Israeli and Cypriot gas will be exported to the EU and we respect the solutions that have the blessing of the two governments, but will be tested by the market," the Greek Prime Minister said.

Christodoulides said the three discussed cooperation with India and discussed ways to capitalize on "the momentum achieved by the groundbreaking Abraham Accords."

The next meeting of the leaders of the three countries will be held next year in Israel, the joint statement said.