Cypriot and Israeli Energy Ministers, George Papanastasiou and Israel Katz, held a meeting in Israel where they made significant commitments, as they agreed to initiate technical discussions through two expert groups on electricity and gas pipeline interconnection, with plans to convene in July. Additionally, the ministers committed to continuing negotiations on the Aphrodite-Ishai issue, aiming to reach an agreement by the end of the year.

George Papanastasiou, the Minister of Energy, Commerce, and Industry, concluded his two-day visit to Israel, during which he met with Israel Katz, the Israeli Minister of Energy and Infrastructure. The discussions primarily focused on the electricity interconnection between Cyprus and Israel, with the goal of making progress before the COP28 meeting, scheduled to take place in Dubai at the year's end.

Furthermore, the Ministers addressed the commitment made by President Nikos Chistodoulides and Prime Minister Benjamin Netanyahu during their recent meeting. They discussed the framework for cooperation in developing regional natural gas infrastructure, specifically the Cyprus Gateway Initiative, which aims to transfer natural gas from the Eastern Mediterranean and Israeli resources to Europe via Cyprus.

George Papanastasiou expressed his gratitude to his Israeli counterpart for the warm welcome and fruitful deliberations over the past two days. He emphasized the strong commitment of both countries to further strengthen and deepen their partnership based on shared values and strategic interests, particularly in the energy sector.

In addition, Mr. Papanastasiou stressed the need for energy diversification, supply security, and increased interconnectivity, particularly in light of the ongoing energy crisis. He emphasized the importance of expediting discussions at various levels to establish a reliable energy corridor from the Eastern Mediterranean. The focus lies on the electrical interconnection between Cyprus and Israel, as well as utilizing Cyprus as a gateway for Israeli gas to reach Europe.

Israel Katz, the Israeli Minister, highlighted the enduring alliance and shared vision between Israel and Cyprus. He emphasized the pivotal role of the energy sector in strengthening their bond. Moreover, Katz expressed his vision of propelling Israel into a vibrant energy bridge connecting the East and West, with Cyprus as an indispensable partner in realizing this vision.

Cyprus is making a strategic move to strengthen energy ties with Israel following recent elections in Turkey and Greece. The Cypriot government recently pitched a pipeline project to representatives from major oil and gas companies, aiming to link Israel with Cyprus for liquefying and exporting gas to Europe. However, Cyprus faces challenges in convincing skeptical energy companies due to past stalled efforts and geopolitical complexities. The proposed pipeline would be shorter and less costly than previous plans, but it still requires buy-in from Israeli companies. Additionally, Turkey's involvement remains a sensitive issue. Despite these hurdles, the Cypriot government received positive feedback from Chevron regarding the pipeline proposal, some weeks ago.