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Greece-Cyprus-Israel: Energy Bridge

A Memorandum of Cooperation between Greece and Israel on water resources management and environmental protection was signed yesterday by Environment, Energy and Climate Change Minister George Papaconstantinou and Israeli National Infrastructure Minister Uzi Landau, in the margins of the Investment Energy Summit: Greece, Cyprus, Israel Economist conference held in Athens.

In addition, Greece, Israel and Cyprus agreed to deepen energy cooperation with a trilateral memorandum to be signed in the coming months. Addressing the event, Papaconstantinou said "within the next few months and years, we could be talking about a new route to transfer gas to European market based on the deposits discovered in Israel and Cyprus, and hopefully, Greece," stressing that by the end of the year or the beginning of 2013 drilling will have started in Greece.

On his part, Landau spoke of “an axis of Greece, Cyprus and Israel and possibly more countries which could offer an anchor of stability in the region."

Cyprus Minister of Commerce, Industry and Tourism Neoklis Sylikiotis highlighted that the three countries could also share electricity produced by natural gas before gas exports become feasible.On the sidelines of the conference, Papaconstantinou held talks with the Special Envoy of the United States Secretary of State for Eurasian Energy, Ambassador Richard Morningstar. Foreign Minister Stavros Dimas also met with Morningstar and Landau.

Source: Greek News Agenda
Friday, March 30, 2012