Israel to Boost Regional Clout with Cyprus-Europe Power Link

Strengthening Regional Energy Ties

In a significant step towards regional energy cooperation, Cyprus and Israel have reaffirmed their commitment to advancing joint energy projects. Energy Ministers George Papanastasiou of Cyprus and Eli Kohen of Israel have placed the Great Sea Interconnector, a submarine power cable project, at the top of this year’s agenda.

The announcement came following a meeting in Tel Aviv, where Papanastasiou was accompanied by senior officials. Cohen highlighted the strategic importance of the project, stating that it not only strengthens Israel’s position in the region, but also contributes to the country’s energy independence and offers a solution to Europe’s urgent need to diversify energy sources.

Both ministers emphasized the potential benefits of the interconnector, which would provide Israel with access to backup power from the European grid during emergencies. The discussions also covered initiatives for developing natural gas transmission infrastructure in the Eastern Mediterranean, including the Cyprus Gateway initiative, which aims to channel Israeli and regional gas to Europe.

The urgency of resolving the Aphrodite – Ishai natural gas reservoir dispute was also underscored, as both countries look to expedite a solution. The ministers’ tour of the Reading Power Station in Tel Aviv, alongside energy professionals, underscored their dedication to exploring viable sites for establishing the underwater electricity connection.

Papanastasiou stressed the shared vision between Cyprus and Israel for an Eastern Mediterranean energy sector that promotes regional peace, stability, and prosperity. He pointed out that their discussions focused on ensuring close coordination and the timely completion of the Great Sea Interconnector, which is set to link the electricity grids of Israel, Cyprus, and Greece.

Highlighting Cyprus’ potential role as a natural gas gateway to European markets, Papanastasiou emphasized the importance of developing synergies in infrastructure. He expressed confidence that Cyprus could become an integral part of a reliable East Med energy corridor, contributing to the diversification of sources and routes for European energy supplies.

electricity cable
Israels new electricity cable to Europe via Cyprus aims to bolster energy security, diversify energy sources in the region, and enhance electrical grid resilience by facilitating renewable energy export to European markets.

Can connecting an electricity cable to Europe boost Israels energy independence?

Send a request and get a free consultation:

Business Cyprus News, Digging Deeper: Unraveling the Employment Agreement

February 2025
Cyprus Economic Growth Indicator Stable in June Amid Lease Trends
The year-over-year growth rate of the Cyprus Composite Leading Economic Index remained stable in June. This stability is attributed to opposing trends within the economic indicators. The University of Cyprus noted these findings in their monthly report, highlighting the importance of lease agreements in the market.
Tourism Sector Sees Growth with New Hotel and Entertainment Leases
A surge in investment for tourism development, including hotels and entertainment venues, is underway. Efforts focus on upgrading staff, food, and service quality. Tourist arrivals have increased by 8% annually, supported by favorable planning policies. Leasing opportunities are also expanding.
Businesses in Cyprus Seek Lease Adjustments Amid Heatwave Challenges
A major tech firm has signed a 10-year lease for a new office space in downtown San Francisco. The move aims to accommodate the company's expanding workforce and foster innovation. This strategic decision reflects the firm's commitment to growth and its confidence in the city's business environment.

Understanding employment contracts

  • Contract basics
  • Template examples
  • Sample agreements
  • Negotiation tips
    Thanks for the apply!
    We will get back to you within 1 business day
    You can schedule a call time at your convenience now:
    In the meantime, you can get a free consultation
    with our AI-assistant