Follow Cyprus immigration and Cyprus economic news: Two international projects involving Cyprus have been included in the European Commission's list of 250 key energy infrastructure projects, with a total funding amount of €5.85 billion from the EU's special fund.
These two "national projects of common interest" encompass large cooperative projects involving Cyprus, Israel, and Greece, including: laying an underwater cable between Israel and Greece to connect Cyprus to the European energy network; and constructing gas storage facilities for the planned Vasiliko liquefied natural gas plant.
Specifically, the first project is called the Eurasia Interconnection Project, which connects Hadara in Israel to the Greek mainland and Crete through Vasiliko in Cyprus via underwater cables; the second involves oil and gas infrastructure construction, pipeline laying, and the construction of transportation facilities to transport oil and gas from offshore gas fields in the Eastern Mediterranean to Greece via Crete, including the construction of liquefied natural gas storage facilities at Vasiliko, which will connect to the aforementioned pipeline, storing Levant Basin gas on land in liquefied form, creating a Mediterranean oil and gas storage site, ultimately delivering it to other remote terminals in the Mediterranean.