The agreement, entered into recently, opens the way for further cooperation on energy matters between the three countries.
Amongst those pushing ahead with the initiative is Cypriot businessman Nasos Ktorides, who also heads the EuroAsia Interconnector project which will connect Israel, Cyprus and Greece.
The two interconnectors ware expected to contribute to Cyprus’ establishment as an energy centre for the wider region since the cable between Cyprus and Egypt will in turn be connected to countries in the Middle East and Africa. The connection with Greece, meanwhile, will create a connection with the rest of Europe.
Efforts are also still underway to create the conditions for the creation of a natural gas pipelines linking Egypt, Cyprus and Greece.