€ 1.5 bln EU flag­ship ‘Pro­ject of Com­mon In­ter­est’ aims to end en­ergy iso­la­tion of Cyprus, Greece and Is­rael

Financial Mirror (Cyprus) - - FRONT PAGE -

Greece.

“Italy sup­ports and con­sid­ers as a pri­or­ity build­ing a re­silient En­ergy Union, based on the di­men­sions of se­cu­rity and sol­i­dar­ity, a fully in­te­grated in­ter­nal en­ergy mar­ket, en­ergy ef­fi­ciency, de-car­bon­i­sa­tion, re­search, in­no­va­tion and com­pet­i­tive­ness. It is es­sen­tial to strengthen co­op­er­a­tion not only be­tween mem­ber states, but also with neigh­bour­ing coun­tries that are tra­di­tional part­ners in en­ergy re­la­tions,” said Am­bas­sador Cer­boni, and added:

“As the Am­bas­sador of Italy, I have an ad­di­tional rea­son of sat­is­fac­tion: EuroAsia In­ter­Con­nec­tor has awarded the stud­ies for the tech­ni­cal de­sign, the re­con­nais­sance study for the op­ti­mum route and an en­vi­ron­men­tal im­pact study, to two Ital­ian com­pa­nies, CESI S.p.A. (a com­pany from Mi­lano with more than 50 years of ex­pe­ri­ence in test­ing and con­sult­ing ser­vices for the elec­tri­cal in­dus­try) and GAS S.r.l, from Bologna prov­ince, a com­pany of solid ex­pe­ri­ence world­wide in geo­phys­i­cal, geotech­ni­cal and en­vi­ron­men­tal sur­veys.”

Speak­ing from the pier where the ves­sel is docked, Am­bas­sador Fo­topou­los said: “The Odin Finder (right next to us) will not just de­ter­mine the prefer­able route for an elec­tric­ity ca­ble. It is ac­tu­ally go­ing to de­ter­mine the prefer­able route for con­nect­ing the peo­ples of Greece, Cyprus and Is­rael. It would be fair to say then that we are all em­bark­ing on a his­toric ex­pe­di­tion.”

Work on the ini­tial 329-kilo­me­tre ca­ble link be­tween Is­rael and Cyprus is ex­pected to be­gin in 2017 and be com­pleted in 2019. The se­cond phase will con­nect the is­land of Crete to At­tica in main­land Greece in 2020 and the third and fi­nal phase will con­nect the ca­ble from Cyprus to Crete with a view of full im­ple­men­ta­tion of the “elec­tric­ity high­way” by 2022.

The ex­pected cost of step one and step two of the pro­ject is 1.5 bln euros and will be un­der­taken in full by EuroAsia In­ter­con­nec­tor.

Newspapers in English

Newspapers from Cyprus

© PressReader. All rights reserved.