On 4 September, Cyprus, Greece and Israel signed a joint agreement in Lefkosia (widely known as Nicosia) to strengthen the cooperation of their trilateral partnership platform. 

At the 9th Trilateral Summit, the countries agreed to deepen energy cooperation, particularly in natural gas, electricity and renewable energy, and explore areas of interest in the Eastern Mediterranean and wider region.  

According to a non-profit think tank, the Middle East Institute, 2022 saw several new gas discoveries in Israel, Cyprus and Egypt. The new reserves would facilitate the production infrastructure to support exports from the Eastern Mediterranean. 

“Addressing the global challenge of climate change, we agree to reinforce our efforts through regional cooperative projects, innovative energy technologies and promoting further regional energy connectivity,” the statement said.  

Israeli Prime Minister Benjamin Netanyahu told reporters after the summit that the countries will decide within the next three to six months on “how Israel exports its gas, and the same decisions have to be made by Cyprus. We are looking at the possibility of cooperating on this.”

The Greek Prime Minister said: “We have a great interest in seeing how the Israeli and Cypriot gas will be exported to the EU and to respect solutions that have the blessing of the two governments, but they will also be tested by the markets,” independent news agency Arab Weekly reported

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData

Cyprus, Israel and Greece are also building the world’s longest and deepest subsea electricity cable, EuroAsia Interconnector, a 2,000MW project linking the three countries’ power grids with Europe. 

“The strengthening and widening of the circle of peace between Israel and the Arab world, unthinkable only a few years ago, holds the promise for a more secure and prosperous region, and we are committed to encourage and support this process,” the statement reads. 

The next Trilateral Summit will be held in Israel in 2024.