1 hr ago
Rubio Backs Eastern Mediterranean Undersea Power Cable Project
A plan is being developed to lay an undersea electricity cable in the eastern Mediterranean.
It would connect mainland Europe to Cyprus and later Israel.
The project is worth €1.9 billion and is being developed by Greece’s power grid operator.
US Secretary of State Marco Rubio said the United States supports it and will use diplomacy to address obstacles.
Greece wants to restart surveys of the seabed to help decide the cable’s route.
Turkey says the surveys need prior coordination because the route crosses an area covered by its maritime deal with Libya.
Greece has rejected that deal.
The cable is intended to help Cyprus connect to other EU electricity markets.
Secretary of State Marco Rubio said the United States is committed to the EU-backed eastern Mediterranean cable project.
Rubio said US diplomacy would seek to resolve potential obstacles to the project.
The €1.9 billion project, developed by Greece’s grid operator IPTO, aims to connect mainland Europe with Cyprus and later Israel.
Greece wants to resume seabed surveys soon, while Turkey says surveys crossing an area covered by its 2019 maritime deal with Libya require prior coordination.
French investment group Meridiam agreed in August to become the project’s majority shareholder; Cyprus currently has no electricity-market link to other EU members.
- Who
- The United States, Greece’s power grid operator IPTO, and other parties involved in the project; Greece and Turkey have differing positions on seabed surveys.
- What
- A €1.9 billion undersea electricity cable project linking mainland Europe to Cyprus and later Israel.
- Where
- The eastern Mediterranean, with the cable planned to connect mainland Europe, Cyprus, and later Israel.
- When
- Rubio’s comments were published on Thursday in an interview; the Reuters report was dated October 8. Meridiam signed its agreement in August.
- Why
- The project aims to diversify energy supplies and improve Cyprus’s energy security by connecting it to other EU electricity markets.
Greece
Turkey
Seabed surveys and route planning
Greece
Greece wants to resume seabed surveying soon to determine the cable route, and Athens has rejected the 2019 maritime deal between Turkey and Libya.
Turkey
Turkey says surveys crossing an area covered by its 2019 maritime deal with Libya require prior coordination between Turkey and Greece.
Key facts
- Project cost
- €1.9 billion
- Project developer
- Greece’s power grid operator IPTO
- Planned connections
- Mainland Europe to Cyprus, and later Israel
- US position
- Rubio said the United States is very committed and will use diplomacy to address potential obstacles.
- Greek position
- Greece wants to resume seabed surveys soon to determine the route.
- Turkish position
- Turkey says surveys in an area covered by its 2019 maritime deal with Libya require prior coordination.
- Investment agreement
- Meridiam agreed in August to become the project’s majority shareholder.
- Cyprus electricity connection
- The report says Cyprus is the only EU country without a link to other members’ electricity markets.
Quotes
Marco Rubio
US Secretary of State interviewed by Kathimerini
“We understand there are some potential impediments, there are some things standing in the way, and we intend to use our diplomatic efforts to remind all parties how important this is to us and why this matters. And I hope to find resolutions.”
theprint.in
Sources
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