The Terms of Reference for the preparation of a preliminary feasibility study regarding a possible Cyprus-Lebanon electricity interconnection have been agreed upon by the Ministers of Energy of the two countries, Michael Damianos and Joseph Al-Saddi, with the support of the World Bank.
According to an announcement by the Ministry of Energy, the agreement is part of the dialogue to strengthen energy cooperation between the two countries and aims to explore the sustainability of the electricity interconnection.
In a Joint Statement issued on Thursday, 16 July, the two Ministers express their belief that the study will constitute a reliable basis for the evaluation of the project and will contribute to broader efforts to strengthen regional energy cooperation, energy security and sustainable economic development 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 assessed, based on agreed scenarios.
If the initial results are positive, a more detailed techno-economic pre-feasibility study will follow. According to the announcement, the phased approach will allow for informed decisions and ensure that subsequent assessments 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 of the Governments of Cyprus and Lebanon.
(Source: InBusinessNews)
