Greece and Egypt are signing an agreement of great geopolitical and energy importance for the whole of Europe.
It concerns the first interconnection of Europe with Africa in the region of the Southeastern Mediterranean, the bases of which enter today in Athens with the signatures of the electricity interconnection agreement Greece-Egypt.
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 information, there is an explicit reference to the need to respect 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.
Furthermore, the agreement follows in the footsteps of the agreement on the delimitation of maritime zones between Greece and Egypt, which was signed on August 6, 2020.
The basis for today’s signatures by the ministers Kostas Skrekas and Mohamed Shaker which seal the Athens-Cairo strategic cooperation, were laid during Kyriakos Mitsotakis’ visit to Cairo last June. The issue was discussed thoroughly during the meeting that the Prime Minister had with the President of Egypt Abdel Fattah Al Sisi.
The Memorandum of Understanding for the electrical interconnection through the submarine cable laying that will be signed today, will improve the security of supply of the area, increasing the cross-border energy exchanges, while it will allow 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, in the context of the interconnection of the Trans-European Energy Networks, will be considered, which will facilitate both the licensing and financing of the project.