Greece Pledges to Link Egypt to European Union's Energy Market
This link is hoped to enable Cairo to play a major role in providing energy security to Europe during a global energy crunch, which has seen the cost of oil, natural gas and other fuels rise greatly.
During a trilateral meeting between Egypt, Greece and Cyprus in Athens, Greek Prime Minister Kyriakos Mitsotakis vowed to connect Egypt to the European Union's energy market. This link is hoped to enable Cairo to play a major role in providing energy security to Europe during a global energy crunch, which has seen the cost of oil, natural gas and other fuels rise dramatically.
"Egypt's link to Europe will be Greece," Prime Minister Mitsotakis announced, after concluding talks with Egyptian President Abdel Fattah El Sisi and Cyprus President Nicos Anastasiades. "We are seeking diversification of energy sources, and Egypt can also become a provider of electricity, which will be produced mainly by the sun."
Egypt produces a surplus of electricity due to the low cost of energy from power plants like Benban Solar Park, as well as a growing number of private parks such as the Kom Ombo Solar Park. Greece and Cyprus independently signed agreements to establish undersea interconnectors earlier this week that would allow Egypt to ship out this surplus energy, although the details have not yet been finalised.
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