Nicosia, June 14, 2022 – Tapping into Israel’s vast renewable sources of energy will help reduce the EU’s dependence on Russia, European Commission President Ursula von der Leyen said during her visit to Israel, highlighting the importance of Cyprus and Greece in securing energy supply.

She added this will be achieved through the EuroAsia Interconnector electricity link, co-funded by the EU, and a hydrogen-natural gas pipeline in the eastern Mediterranean.

During the Honorary Doctorate degree ceremony at the Ben Gurion University of the Negev on Tuesday, von der Leyen said, “we are now exploring ways to step up our energy cooperation with Israel.

“We have two major projects in preparation: the world’s longest and deepest underwater power cable, connecting Israel with Cyprus and Greece.

“This will over time be electrification from renewable energies. That is where the investment has to go into.”

In January, the European Union earmarked 657 million euros for the construction of the 2,000-megawatt EuroAsia Interconnector subsea electricity cable that will link the power grids of Israel, Cyprus and Greece, utilising funds from the ‘Connecting Europe Facility’.

The EuroAsia Interconnector is a Project of Common Interest (PCI3.10) and included in the Union list of PCI infrastructures since 2013.

Von der Leyen said Israel has “an abundance of these natural resources to produce renewable energy.

“And the second is a natural gas and clean hydrogen pipeline in the Eastern Mediterranean.

“This is an investment in both Europe’s and Israel’s energy security. And this infrastructure will also contribute to decarbonising our energy mix.

“It is a great example of democracies sticking together not only in times of conflict but mostly to fight this huge enemy we have, and that is climate change.

“This is the big looming crisis in the background.

“And we have to take all our knowledge, all our engineering and entrepreneurial spirit that we have to innovate, to bring about the innovative technologies, to work to fight climate change, to make this world a better place, and to hand it over to our children with still a spring, a summer, a fall and a winter to experience.

Watch the video here: https://euroasia-interconnector.com/resource-library/media-library/videos/