Cyprus, Greece and Israel sign cooperation agreements on submarine power cables

Cyprus, Greece and Israel signed a preliminary agreement on Monday to build the world's longest and deepest underwater power cable, which will cross the Mediterranean Sea to connect the tripartite power grid, costing about $900 million
.

Israeli Energy Minister Yuval Steinitz signed a memorandum of understanding in Nicosia with Greek Energy Minister Kostas Krekas and Cypriot Energy Minister Natasa Pilides on Monday, which is called the Eurasian Interconnection System and will provide backup power
in case of emergency.

Cyprus Energy Minister Natasa Pilides said it marked "a decisive step towards ending the problem of isolated energy supplies on the island and thus our dependence on
heavy fuels.
" Pilides said the deal fosters cooperation "in support of the planning, potential development and implementation of Eurasian interconnection, another element
of the emerging Eastern Mediterranean Energy Corridor.
" ”

Yuval Steinitz said the cable will be about 1,500 kilometers long, have a maximum depth of 2,700 meters, have a transmission capacity of 1,000-2,000 megawatts (MW), and are expected to be completed in 2024, making it the longest and deepest submarine cable
built to date.

According to reports, the system will be divided into three parts, namely about 310 kilometers between Israel and Cyprus, about 900 kilometers between Cyprus and Crete, and about 310 kilometers
between Crete and mainland Greece.
The first phase is expected to be operational
in 2025.

Greek grid operator IPTO has begun construction of the Crete-Greek mainland section, which is expected to end
by 2023.
The Greek operator and Eurasia have been working closely together to ensure that the two cables are connected
efficiently.

The EU has considered the system a "project of common interest" and will partially fund
it.