On March 8, 2021, Greece, Cyprus, and Israel signed a preliminary agreement on the Mediterranean submarine cable in Nicosia, the capital of Cyprus, to jointly build the world’s longest and deepest submarine cable and to connect the three countries’ power grids connect them.

It is reported that the cable will traverse the Mediterranean seabed with a total length of approximately 1,500 kilometers and a maximum depth of 2,700 meters. It is the longest and deepest submarine cable in history. The cable capacity will reach 1,000 MW to 2,000 MW and is expected to be completed in 2024. The project is expected to cost approximately US$900 million.

Israeli Energy Minister Yuval Steinitz said that the project is called Eurasian Interconnection and will provide backup power in emergency situations.

The Energy Minister of Cyprus, Natasa Pirids, stated that this marks "a decisive step towards ending the island’s energy isolation and thus our dependence on heavy fuels."

Pirids called the project a "2000 MW highway," and he said that the first phase is expected to be put into use in 2025. The project will cover three parts of the Mediterranean: about 310 kilometers between Israel and Cyprus; about 900 kilometers between Cyprus and Crete; and about 310 kilometers between Crete and mainland Greece.

The National Grid Corporation of Greece has begun construction of the Crete-mainland part, which is expected to be completed in 2023. An official from the grid company said that Greek operators and Eurasian companies have been working closely to ensure that the two cables are effectively connected to each other. The European Union has recognized the cable as a "project of common interest" and classified it as a project for which the European Union is willing to provide partial funding. Editor/Sang Xiaomei