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Greece, Cyprus Seek EU Funds for Mediterranean Energy Corridor

Nov. 9 (Bloomberg) -- Greece and Cyprus will present two Mediterranean energy plans to the European Commission in an effort to secure part financing from the European Union, the Greek Energy Ministry said.

Greece, Cyprus and Israel are to promote the connection of the three states with an underwater electricity cable and a natural gas pipeline, the ministry said late yesterday in an e-mailed statement.

The 2,000-megawatt EuroAsia Interconnector Project underwater cable between Israel and Europe would help ensure the security of power supplies to Israel, Cyprus and Greece as well as to southeast Europe and the Mediterranean area, the Greek and Cypriot energy authorities said April 26.

The pipeline would allow Israeli, Cypriot and possibly Greek gas later, to be sent to European clients via Greece, offering the region a third source of the fuel in addition to Russian and Azeri supplies, former Greek Energy Minister George Papaconstantinou said March 5.

To contact the reporter on this story: Paul Tugwell in Athens at ptugwell1@bloomberg.net

To contact the editor responsible for this story: Jerrold Colten at jcolten@bloomberg.net

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