Cyprus an energy ‘aircraft carrier’ for Israel

Greece’s IPTO takes 25% strategic stake in EuroAsia Interconnector Cyprus is becoming an ‘aircraft carrier’ for Israel to provide its eastern Mediterranean neighbour with a secure supply of energy generated from offshore gas fields, converted to electricity, and transmitted cheaply and safely via a subsea cable. With the island rapidly developing its renewable energy sources (RES) of solar parks and wind farms, the energy mix will soon be diverse and less reliant on geopolitical events, such as the war in Ukraine that sent the price of liquid natural gas through the roof. The EuroAsia Interconnector, the 1,000MW subsea cable, will