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Greek and Cypriot newspapers report that on August 8, Cyprus, Greece and Israel signed a memorandum of understanding, which aims to boost energy security for the eastern Mediterranean.
Described as “historic”, the memorandum will pave the way for, among other measures, the interconnection of the electricity grids in the three participating countries, which will make it possible to export energy produced in the Middle East to Europe, explains Globes. With regard to the recently discovered gas fields off the south and east coast of Cyprus, the Israeli news site adds that the deal also includes a pledge to “cooperate to protect regionally important infrastructures in the Mediterranean.”
The accord will put “an end to the energy isolation” of Cyprus and also, as the Cypriot Minister for Energy has pointed out, pave the way for lower electricity prices on the island. In Nicosia, Politis argues that the deal is highly significant, adding that
… the cooperation between Cyprus and Israel will change the geopolitical and geo-strategic map of the eastern Mediterranean.
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