Greece and Israel have signed a bilateral agreement that both sides say will promote regional energy stability.

The agreement, which also includes innovative energy works related to the Eastern Mediterranean and the European Union, was signed in Athens by Environment and Energy Minister Thodoros Skylakakis and Israeli Energy and Infrastructure Minister Eli Cohen.

The strategic agreement “confirms the long-term relationship and collaboration between Greece and Israel,” Skylakakis said.

The deal was a landmark in the collaboration of the two countries in terms of energy that “has much in store for the future,” as both Greece and Israel are facing the repercussions of the climate crisis, he added.

“In this context, the creation of a ‘green’ corridor of electric energy from Israel to the European Union through Greece will comprise a project of strategic importance for the Eastern Mediterranean region,” he continued.

The agreement was due to have been signed last month, but the Israeli side cancelled at the last minute, citing a cabinet meeting in Israel on the ceasefire with Hezbollah as the reason.

It was reported that the agreement was expected to focus on the Greece-Cyprus-Israel electrical interconnection project (Great Sea Interconnector), which faces delays due to the slow progress of the Crete-Cyprus segment.

Moreover, the agreement was reportedly set to cover a wide range of energy collaborations, from renewable energy sources and energy storage to hydrogen projects.

Sources told Kathimerini that the initiative for the agreement came from the Israeli side. [AMNA]

Source: Ekathimerini.com