Agreement on the Greece-Egypt electricity interconnection, is to be signed tomorrow, Thursday, in Athens, by the Minister of Environment and Energy, Kostas Skreka and the Minister of Electricity and Renewable Energy, Mohamed Shaker.
This is the first interconnection between Europe and Africa in the South East Mediterranean region which will improve the security of supply in the region by increasing cross-border energy exchanges but will also allow for the further development of renewable energy sources to feed the pipeline.
The groundwork for the signing of the agreement was laid during the Prime Minister's visit, Kyriakos Mitsotakis in Cairo in June, during which Mr. Skrekas met with Mr. Shaker, the Egyptian Minister of Environment, Yasmine Fouad and the Minister of Petroleum and Mineral Resources, Tarek El Molla and discussed the plans for an electrical interconnection between the two countries by laying a submarine cable. The agreement in principle provides for the signing of a Memorandum of Understanding (MoU) between the two ministries, which could evolve into an Intergovernmental Agreement.
It is also envisaged to consider the prospect of including the project in the European Union's Projects of Common Interest (PCI), in the context of the interconnection of the Trans-European Energy Networks, which will facilitate both the permitting and the financing of the project.
