Greece, Egypt, Cyprus sign energy deal with Europe in mind

Greece, Egypt, Cyprus sign energy deal with Europe in mind
2 min read
The protocol was signed during a meeting between Greek Prime Minister Kyriakos Mitsotakis and the presidents of Egypt, Abdel Fattah al-Sisi, and Cyprus, Nicos Anastasiades, in Athens.

Greece, Cyprus and Egypt signed on Tuesday an electricity agreement that could include Egyptian solar power and potentially supply the rest of Europe, just as the continent faces an energy crunch.

The protocol was signed during a meeting between Greek Prime Minister Kyriakos Mitsotakis and the presidents of Egypt, Abdel Fattah al-Sisi, and Cyprus, Nicos Anastasiades, in Athens.

The deal concerns the "interconnection" of the neighbours and transfer of electricity to their respective networks, Mitsotakis said.

"As energy sources diversify, Egypt can become a supplier of electric power, which will be mainly produced by the sun, and Greece will become a distribution station for Europe," Mitsotakis added.

The announcement comes as countries around the world face an energy crisis, with the prices of natural gas, oil and coal rising.

Sisi said the agreement aims to "reinforce energy cooperation".

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In a joint statement, the Mediterranean neighbours said: "This interconnection reinforces cooperation and energy security, not only between these three countries but also with Europe."

"It will be a way to transfer important quantities of electricity from and to the eastern Mediterranean," the statement said.

The three countries also expressed their intention of exploring and transferring natural gas in the region.

Energy cooperation between eastern Mediterranean countries regularly irritate Turkey, which has its eyes set on oil and natural gas deposits in the region.

"Unfortunately, Ankara does not understand the message of the times and its aspirations to the detriment of its neighbours are obviously a threat to peace in the region," Mitsotakis said.

Tensions soared last year when Turkey sent an exploration ship and small navy flotilla to conduct research in waters that Greece considers its own under treaties.