Israel and Cyprus started a feasibility study for the construction of a submarine cable between the two nations, Reuters reported.
The Israel-Cyprus branch would eventually be part of a much longer cable continuing to Greece and from there to the pan-European electricity power grid.
If authorized, the EuroAsia Interconnector will extend 1,000 kilometers in total at a maximum depth of 2,000 meters.
The cable itself will take three years to construct.
Nasos Ktorides, chairman of DEH Quantum Energy, which is composed of Greece’s PPC, Cyprus’s Quantum Energy and Bank of Cyprus, inked a memorandum of understanding in Jerusalem with his partner, state-owned Israel Electric Corp (IEC), to commence the feasibility study that should be completed by year end.
Reuters quoted Israel’s Energy Minister Uzi Landau as saying: “ This cable would bring us more stability and security. ” The Minister has also informed of serious risks of power shutdowns this summer due to a short-term energy absence.
[mappress] Subsea World News Staff , March 05, 2012