The Energy Ministers of Cyprus and Lebanon, Michalis Damianos and Joseph Al-Saddi, have agreed on the Terms of Reference for a preliminary feasibility study regarding a potential electricity interconnection between the two countries, with the support of the World Bank.

According to an announcement by the Ministry of Energy, Commerce and Industry, the agreement is part of the dialogue to strengthen energy cooperation between the two countries and aims to explore the viability of the electricity interconnection.

In a Joint Declaration issued on Thursday, the two Ministers expressed their belief that the study will provide a reliable basis for evaluating the project and will contribute to broader efforts to enhance regional energy cooperation, energy security, and sustainable economic growth in the Eastern Mediterranean.

The study will be implemented in stages, based on a methodology proposed by the World Bank. In the first stage, the balance between electricity supply and demand, as well as key economic parameters, will be evaluated based on agreed scenarios.

If the initial results are positive, a more detailed techno-economic preliminary feasibility study will follow. According to the announcement, this phased approach will enable informed decision-making and ensure that subsequent evaluations are based on robust technical and economic data.

To coordinate the process, Cyprus and Lebanon will establish a joint Technical Steering Committee, which will work closely with the World Bank during the preparation of the study.

The two Ministers also expressed their appreciation to the World Bank for its support and for its response to the joint request from the Governments of Cyprus and Lebanon.

Source: ink.com