The EuroAsia Interconnector project can be a game changer for energy security and energy supply to the European market, Cyprus’ Minister of Energy, Natassa Pilides stressed on Monday.

She was speaking following the conclusion of the Trilateral Meeting, held in Jerusalem with the participation of her Israeli and Greek counterparts, Karine Elharar and Costas Skrekas, respectively.

In her statements Pilides also noted the importance of strategic partnerships in volatile times, especially during the current crisis in the Ukraine. These partnerships “not only have the benefits of ties of friendship and ties within our region and amongst our countries, but also practical results of the alternative solutions we can offer to the world and to Europe on energy security and in terms of being able to rely on ourselves and in terms of our security” she said.

One of the main projects discussed during the Trilateral Meeting was the EuroAsia Interconnector. “We are very proud to have secured the funding of more than 650 million euros from the EU, which can make the project a reality. We already committed to the commencing of the construction of the project which can be a game changer for energy security and energy supply to the European market and beyond, even with all these challenges going on in today’s world” she said.

As for the EastMed energy corridor, aimed to supply natural gas from the East Mediterranean to the European markets, Pilides suggested that the East Mediterranean Gas Forum (EMGF) and its various working groups, which have set the framework of the regional energy collaboration, are "an excellent environment of discussing various projects" such as the EastMed pipeline or the potential of Aphrodite and Glafkos reservoirs to be exported to Egypt via a pipeline, possibly together with Israeli reservoirs. Pilides stressed the importance of not only discussing various alternatives, but also the necessity of presenting these options to the European Union in an effective way, in order to implement a roadmap within the coming months and years.

Karine Elharar referred to α dispute between Cyprus and Israel over a possible extension of natural gas deposits from Aphrodite to neighboring Ishai in the Israeli EEZ and said said that a roadmap will be developed by professional teams from both ministers which will meet on a monthly basis. The ministers will conduct periodic follow-up meetings in order to meet a quick and optimal solution, she added. As a first step an expert will be appointed, whose work will be defined by the aforementioned professional teams, she said expressing hope that "with this we start to resolve the solution for the maritime border."

Skrekas from his part said that the cooperation of the three countries in multilateral energy projects including EastMed gas pipeline, LNG connectivity and the EuroAsia Interconnector remain to be of "utmost importance" for the strategic relationship between Greece, Cyprus and Israel. Implementing these projects will benefit our countries, the wider region and Europe because they will further contribute to enhancing energy security. This, according to the Greek Minister can happen by a direct corridor to European markets via Cyprus and Greece through both KNS plants and gas pipelines.