The big picture
The EuroAsia Interconnector is part of the European network of intra-country and cross-border electricity grids that are interconnected via bi-directional cables to provide stable and sufficient electricity supply through national transmission operators.
Initial electricity production is generated at local power stations (fossil fuels, natural gas, renewable sources, hydro and solar) and transferred via high-voltage direct current cables (HVDC) on to consumers, both retail and industrial.
Electricity demand in Europe
Europe needs an increasing supply of electricity to meet its long-term energy demand, as the economy grows and consumer demand exceeds output supply, with environmental needs constantly exerting pressure for the use of the cleanest fossil fuels and renewable sources of energy in power generation.
Diversity and security of energy supply
As part of the strategic goal to enhance Europe’s energy security and diversity, the European Commission fully supports the construction of the EuroAsia Interconnector by declaring it a Project of Common Interest (PCI) as part of its strategic policy to provide diversity and security of supply in electric energy.
Host countries' support
The economic and strategic benefits of the EuroAsia Interconnector are also important at a regional as well as national level in the countries through which the cable passes. Israel, Cyprus and Greece have signed a number of Inter-Governmental Agreements (IGAs) in support of the EuroAsia Interconnector and continue to cooperate fully with the project.
In addition, the EuroAsia Interconnector has the approval and support of national energy regulators, transmission operators, local communities and environmental authorities.
In addition to the stimulus to their economic development that new energy supplies will bring, construction of the cable will attract considerable investment to the EuroAsia Interconnector’s host countries, with job creation and long-term investments exceeding 10 bln euros in value.
The EuroAsia Interconnector is helping partner countries (Israel, Cyprus and Greece) to better utilise their recently-found offshore natural gas deposits by converting this clean fuel to electric energy and ensuring this electricity is transmitted efficiently, fast and with as little loss as possible to consumers in participating countries and the rest of the European Union.