10 things we know about Egypt-Cyprus electricity deal
© Egypt Business Directory
1- The agreement signed between Egypt and Cyprus is to start the construction of EuroAfrica Interconnector which is an energy connection undersea between Africa and Europe.
2- The interconnector idea was agreed upon in November 2017 between Egypt, Cyprus and Greece.
3- The interconnector will be built on 2 phases, the 1st phase will transmit a capacity of 1,000MW and after the project is complete it will have the capacity to transmit 2,000MW.
4- The Mega project has an estimate worth of 2 billion euros.
5- The connector will stretch over 310Kms with the lowest point being at 3,000 meters under the sea.
6- The project is estimated to take 36 months to be constructed.
7- The project serves Europe who is looking to diversify energy partners and to lower dependency on Russia.
8- The project also fulfills Egypt goals of becoming an energy hub in the region, especially after the gas exploration in the Mediterranean that made Egypt look to exporting energy.
9- The agreement was signed by the CEO of EuroAfrica Interconnector Nasos Ktorides and the Chairman of Egyptian Electricity Transmission Company Mohamed Mashal at the Council of Ministers.
10- The project is part of the 3 countries directions of strengthening relations in the East Mediterranean region and branding Egypt as one of the EU’s main energy partners.
2- The interconnector idea was agreed upon in November 2017 between Egypt, Cyprus and Greece.
3- The interconnector will be built on 2 phases, the 1st phase will transmit a capacity of 1,000MW and after the project is complete it will have the capacity to transmit 2,000MW.
4- The Mega project has an estimate worth of 2 billion euros.
5- The connector will stretch over 310Kms with the lowest point being at 3,000 meters under the sea.
6- The project is estimated to take 36 months to be constructed.
7- The project serves Europe who is looking to diversify energy partners and to lower dependency on Russia.
8- The project also fulfills Egypt goals of becoming an energy hub in the region, especially after the gas exploration in the Mediterranean that made Egypt look to exporting energy.
9- The agreement was signed by the CEO of EuroAfrica Interconnector Nasos Ktorides and the Chairman of Egyptian Electricity Transmission Company Mohamed Mashal at the Council of Ministers.
10- The project is part of the 3 countries directions of strengthening relations in the East Mediterranean region and branding Egypt as one of the EU’s main energy partners.