European Commission Vice President Maroš Šefcovič on energy tour discusses NatGas and EuroAsia Interconnector cable

January 11, 2016

European Commission Vice President Maroš Šefcovič on energy tour discusses NatGas and EuroAsia Interconnector cable
European Commission Vice President Maroš Šefčovič with Minister Of Energy Of Republic Of Cyprus Mr. Giorgos Lakkotrypis

On January 11, European Commission Vice President Maroš Šefcovic met with the President of Cyprus Nicos Anastasiades and Energy Minister Giorgos Lakkotrypis to discuss the latest energy developments in the eastern Mediterranean which he believes will become a key playerin the energy supply of Europe.

Important Cyprus projects included on the EU's list of Projects of Common Interest (PCIs), notably the 2000 MW EuroAsia Interconnector electricity cable, were among the topics discussed in depth.

The EuroAsia Interconnector is a 1518 km subsea power cable connecting Israel, Greece and Cyprus' power grids to continental Europe. It is one of three Projects of Common Interest to receive funding. The others are the EastMed pipeline linking the eastern Mediterranean natural gas fields with Cyprus and Greece and the removal of internal barriers in a bid to end Cyprus' energy isolation.

Last month the EuroAsia Interconnector entered its final stage with the project promoter awarding three studies that will pave the way for the pre-works phase leading to its implementation and commissioning. The studies are for the technical design, reconnaissance study for the optimum route and an environmental impact study all of which are expected to be completed in 2016.

President Of The Republic Of Cyprus Mr. Nicos Anastasiades with Minister Of Foreign Affers Mr. Ioannis Kassoulides and Minister Of Energy Mr. Giorgos Lakkotrypis with European Commision Vice President.

Speaking after a meeting with the members of the parliamentary Energy Committee, Šefcovic said that he spent most of the time discussing the Cyprus PCI projects which he considers of great importance to the island as well as the importance of energy efficiency in buildings and the better use of solar and wind power.

He also added that the final part of the discussion involved financing and ways to combine support from structural funds which have been allocated to Cyprus by the Juncker investment fund with loans coming from the European Investment Bank or the European Bank for Reconstruction and Development.