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At the outset, I would like to extend a warm
welcome to the EU Commissioner for Energy, Ms. Kadri Simson, the Minister of
Environment and Energy of the Hellenic Republic, Mr. Kostas Skrekas, the
Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt,
Mr. Tarek El Molla, the Minister of Energy and Mineral Resources of the
Hashemite Kingdom of Jordan, Mr. Saleh Al-Kharabsheh, as well as to the
dignitaries who have joined us from abroad.
I could only characterize this
day as historic, since, after years of deliberations and hard work, we are
now in a position to proceed with the construction phase of the “EuroAsia
Interconnector”, an emblematic project of great geopolitical, strategic and
national importance.
A project which will connect
the Cypriot, Greek and Israeli power grids through the world’s longest
submarine power cable which will total over 1,200 kilometres, with a 2,000 Megawatt capability.
The construction of the
electricity interconnection is expected to be completed by the end of 2027,
since the project promoter has secured all the relevant permits and binding
offers from the world’s leading manufacturers in the energy field: Siemens
and Nexans. Commissioning is expected to follow in the first half of 2028.
All efforts made over the last
few years to implement this project are truly remarkable and make us feel
proud. The steps taken as a result of the full cooperation of the government
with the Project Promoter EuroAsia Interconnector
Limited have put the project on track for implementation.
A project that will lead Cyprus
to the path of a new energy era, since, apart from ending our energy
isolation – being in fact the last non-interconnected member state of
the EU– it will create strong perspectives both for the development of
the economy and the broader progress of the country and its citizens,
through:
- Ensuring
the security of energy supply;
- Diversifying
our energy mix;
- Promoting
competition in the electricity market; and
- Achieving
environmental and energy objectives towards a more competitive, sustainable
and greener economy.
Benefits which are obviously
also extended to the countries involved in the ‘EuroAsia Interconnector”.
The realization of the project
“EuroAsia Interconnector” constitutes not only a historic milestone for our
country, but for Europe itself, since it will connect the old Continent with
the Middle East.
That is why it has received the
universal support of all European Institutions, being chosen as a Project of
Common Interest, with the EU earmarking €657,000,000 for its construction through the “Connecting Europe Facility”
mechanism; the largest grant that has ever been provided by the
said mechanism.
This is a testament of the
Project’s importance and high added-value in:
- Enhancing
EU’s energy security by establishing a reliable alternative energy corridor;
- Contributing
to the EU’s climate and energy goals by integrating renewables;
- Increasing
competition on energy markets by offering alternatives to consumers; and
- Contributing
to the EU target for electricity interconnection between member states by
2030.
In addition to the
aforementioned grant, it is also worth mentioning that the Council of
Ministers of Cyprus has approved, in a landmark decision, the allocation of a
one hundred million euros grant to the EuroAsia Interconnector through the
Cyprus’ Recovery and Resilience Plan.
I have left for last an equally
important aspect of the “EuroAsia Interconnector”. The fact that it
constitutes a tangible proof of the benefits of the trilateral and
multilateral mechanisms of co-operation we have established, with the aim of
promoting stability, peace and prosperity in our volatile region.
Having worked hard over the
past few years to build concrete energy partnerships in the region, Cyprus
and our neighboring countries, as the East Mediterranean Gas Forum held this
morning verified, are of the strong view that we can significantly help the
EU in its efforts to establishing reliable alternative energy corridors.
Through coordinated and
collective action, we are confident that we can create in effect an East Med
Energy Corridor by expediting mature projects and moving forward with the
realization of the synergies required for viably exploiting both our
indigenous hydrocarbon and renewable resources.
Projects such as the Eurasian
Interconnector and the EuroAfrica Interconnector between Cyprus, Greece
and Egypt fit very well into this discourse both for their substance,
but also for their strategic value in energy provision and security from the
Eastern Mediterranean to continental Europe.
All of the countries involved
are committed to making these key infrastructure projects a reality. We have,
thus, all agreed upon bilateral and trilateral Memoranda of Understanding,
which map out next steps in implementing the emerging Eastern
Mediterranean Energy Corridor.
In concluding, please allow
me to express on behalf of all Cypriots, our sincere gratitude and
appreciation to the EU Energy Commissioner, Ms. Kadri Simson, for her
continuous and strong personal support for the project.
Her priceless commitment has
always been of great significance for the realization of the “EuroAsia
Interconnector”.
I would also like to express my
sincere appreciation to the Governments of Greece and Israel for the
excellent cooperation we have had all these years and especially to the
Energy Ministers of Greece, Mr. Kostas Skrekas, and the Energy Minister of
Israel, Ms. Karine Elharrar, for their invaluable contribution for
the implementation of the project.
I would also like to
congratulate the Ministry of Energy, Commerce and Industry, and the Minister,
as well all the Ministries involved in the permitting procedure of the
project, the Cyprus Energy Regulatory Authority, the Transmission System
Operator and particularly the Project Promoter, Mr Ktorides, for their
hard work and sincere cooperation which has brought us to the launch of the
construction phase of the project.
I wish every success to the
efforts for realizing the vision.
(RM/EP)
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