Greek PM: Electricity Interconnection Deal with Egypt Critical to Europe's Energy Security

Greek Prime Minister (PM) Kyriakos Mitsotakis stressed on Wednesday that the deal signed between Egypt and Greece to establish an undersea cable, the first infrastructure of its kind in the Mediterranean, is critical to energy security in Europe.

“This is critical to the stability of the European power grid,” Mitsotakis said during a conversation with US economist Jeffrey Sachs, one of the world's leading experts on economic development, on the second day of the first Athens ESG and Climate Crisis Summit.

"The electricity produced in Egypt needs to find its way into the European grid," Mitsotakis added, according to the Greek newspaper "Kathimerini".

He also stressed the geopolitical importance of the agreement signed between Athens and Cairo last year regarding the allocation of a special economic zone in the eastern Mediterranean.

The Greek PM said he hoped projects such as the undersea cable would receive European support, adding: "They are absolutely indispensable for the future of the European power grid."