The importance of the Greece-Egypt electricity interconnection

Greece and Egypt are currently signing an agreement of great importance for Europe, both geopolitically and in energy terms, government sources said on Thursday. It concerns the first interconnection of Europe with Africa in the region of the Southeastern Mediterranean, the foundations of which are laid today in Athens with the signatures of the Greece-Egypt electricity interconnection agreement.

The same sources underlined that this is an agreement, a product of the excellent Athens-Cairo relations, which also offers assurances about the sovereignty and sovereign rights of Greece over its maritime zones, as, according to sources, there is an explicit reference to the need for respect for the sovereignty and sovereign rights of the two countries in the EEZs and their maritime zones, in accordance with the UN Convention on the Law of the Sea.
They also noted that the agreement is based on the agreement on the delimitation of maritime zones between Greece and Egypt, which was signed on August 6, 2020.

In addition, they said that the Memorandum of Understanding on the electrical interconnection through the submarine cable laying to be signed today will improve the security of supply in the area, increase cross-border energy exchanges, while allowing the further development of Renewable Energy Sources. With the agreement, Greece aspires to become a hub of electricity green energy, while it contributes dynamically to the debate on energy security in Europe.

It is noted that the prospect of including the project in the Projects of Common Interest (PCI) of the European Union is being considered, in the context of the interconnection of the Trans-European Energy Networks, which will facilitate both the licencing and the financing of the project.