Cyprus and Egypt signed a memorandum of understanding on Saturday to promote the electrical interconnection of the two countries and ensure energy supply for Cyprus, an official statement said.
The memorandum of understanding provides for the timely granting of permits for the technical studies and laying of the undersea inter-connector cable.
The statement, issued by the Ministry of Energy, Commerce and Industry, said the project will help in lifting Cyprus’ energy isolation, ensuring energy supply, and will also strengthen the effort to further develop renewable energy sources.
The interconnection is part of a wider scheme to electrically interconnect Egypt, Cyprus and Greece, already agreed between the governments of the three countries in the context of their tripartite regional cooperation agreement, the statement said.
An electrical interconnection is also planned between Israel, Cyprus and Greece.
Cyprus and Greece have established tripartite cooperation agreements with almost all countries in the eastern Mediterranean and beyond, such as Egypt, Israel, Jordan, Lebanon, Serbia and Armenia.