Cypriot, Israeli and Greek governments have agreed to set up two working groups to evaluate the feasibility of two major initiatives to supply energy to EU markets. They will examine connection via a planned Euro-Asia high voltage direct current (HVDC) electricity cable and the setting up of a South East Mediterranean energy corridor, which could transport Cypriot and Israeli gas via pipeline or LNG (floating/fixed terminal) options.
The move comes after energy ministers of the three states met in Cypriot capital Nicosia on 8 November. While giving a green light to the studies, they fell short of agreeing the trilateral memorandum of understanding (MOU) that was subject of discussion six months ago. (CONTINUED - 779 WORDS)