The Governments of Cyprus and Lebanon have taken the next step for an electrical interconnection between them, as Fhilenews had revealed last Monday that they would do. The Ministries of Energy in Nicosia and Beirut jointly signed a letter to the World Bank, followed this morning by the Joint Statement.
The Ministry of Energy, Commerce and Industry, in a statement, informed that, in the context of the dialogue for the strengthening of energy cooperation between Cyprus and Lebanon, the Ministers of Energy of the two countries, Mr. Michalis Damianos and Mr. Joseph Al-Saddi, have agreed in the Terms of Reference for the preparation, with the support of the World Bank, of a preliminary feasibility study on the possible electrical interconnection between the two countries.
In a Joint Statement issued today, the two Ministers express confidence that the study will provide a reliable basis for assessing the viability of the electricity interconnection between Cyprus and Lebanon, contributing to broader efforts to strengthen regional energy cooperation in the Eastern Mediterranean.
According to the methodology proposed by the World Bank, the study will be implemented in stages. Initially, the balance between electricity supply and demand and key economic parameters of the project will be assessed, based on agreed scenarios. If the results of the first stage are positive, a more detailed techno-economic preliminary feasibility study will follow. This approach will allow for informed decisions to be made at each stage, while ensuring that subsequent evaluations for the project are based on strong technical and financial data.
To coordinate the process, Cyprus and Lebanon will establish a joint Technical Steering Committee, which will cooperate with the World Bank during the preparation of the study.
