Greece, Israel Sign Pact to Boost Eastern Mediterranean Energy

Investing.com -- On Monday, Greece and Israel solidified their commitment to enhancing energy cooperation in the Eastern Mediterranean region. The agreement, aimed at promoting regional energy stability and collaborative projects, was signed by Greek Environment and Energy Minister Theodoros Skylakakis and Israeli Minister of Energy and Infrastructure Eli Cohen in Athens.

The Greek Energy Ministry announced the development through an emailed statement on the same day. The agreement is seen as a significant step in the joint efforts of Greece and Israel to address the challenges posed by the climate crisis. Both nations are actively seeking ways to mitigate the environmental impacts while ensuring energy security and stability in the region.

Minister Skylakakis emphasized the importance of the agreement, stating, "The agreement with Israel constitutes an important milestone in the cooperation between the two countries on energy issues and holds much in store for the future, as both Greece and Israel face the impacts of the climate crisis."

One of the key components of this bilateral cooperation is the initiative to connect Israel's power grid to the European Union through Greece. This project is expected to enhance the energy infrastructure and interconnectivity between Israel and EU member states, potentially leading to more integrated and resilient energy systems in the region.

The signing of this agreement marks a continued effort by both Greece and Israel to collaborate on energy matters, reflecting a shared vision for a more stable and sustainable energy landscape in the Eastern Mediterranean.

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Source: Investing.com