On October 14, 2022, an event was held to inaugurate the EuroAsia Interconnector. The project will connect the Cypriot, Greek and Israeli power grids through the world’s longest submarine power cable, nearly 10,000 feet deep, which will total over 1,200 kilometers (746 miles) with a 2,000-Megawatt capability.
Cypriot President Nicos Anastasiades said, “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.”
The first section scheduled for construction will connect Cyprus and Crete. When the entire grid is completed in 2027, it will promote competition in the electricity market and foster a more sustainable and greener economy. All EU countries will also be connected to the EU electricity grid.
The EuroAsia Interconnector is a Project of Common Interest (PCI) for the European Union. The bloc has earmarked €657 (about $650) million for its construction.
In addition to ending the energy isolation for Cyprus, it will provide electricity desperately needed by European countries following the cutoff of supplies from Russia resulting from the war in Ukraine. EU Energy Commissioner Kadri Simson said that “due to the energy crisis we are going through, the importance of this project is more important than ever. I am deeply convinced that we can only weather the storm if we work together.”
Obtaining access to gas reserves in Cyprus, Israel and Greece, will contribute to the EU’s energy transformation and increase the probability of reaching the European goal of a 55% reduction in net greenhouse gas emissions by 2030, compared to 1990 levels.
EU Commission President Ursula von der Leyen said the project is “an investment in both Europe’s and Israel’s energy security. And this infrastructure will also contribute to decarbonizing our energy mix.”
Source: “Ursula von der Leyen: EuroAsia Interconnector, Cyprus, Greece and Israel will help free EU from energy dependence,” EuroAsia Interconnector, (June 14, 2022).
“Commission participates in launch of EuroAsia Electricity Interconnector,” European Commission, (October 14, 2022).
“EuroAsia Interconnector ready for construction, ‘historic day’, president says,” CyprusMail, (October 14, 2022).