Latest news with #GREGY
Egypt Today
08-05-2025
- Business
- Egypt Today
Egypt and Greece Forge Stronger Ties with Strategic Pact and Energy Cooperation Boost
CAIRO - 8 May 2025: In a significant move to enhance bilateral relations, Egypt and Greece signed a strategic partnership agreement yesterday during President Abdel Fattah El Sisi's official visit to Athens, as announced by the Egyptian Presidency. The agreement was accompanied by several other deals aimed at advancing collaboration in vital sectors. During his visit, President El Sisi held high-level discussions with Greek Prime Minister Kyriakos Mitsotakis, focusing on mutual priorities and regional stability. Topics included the situations in Gaza, Syria, Libya, and Yemen. President El Sisi reaffirmed Egypt's commitment to strengthening cooperation with Greece in areas such as trade, tourism, energy, transportation, cross-border electricity projects, and cultural engagement. A key highlight of the visit was the launch of the Egypt-Greece High-Level Cooperation Council, co-chaired by El Sisi and Mitsotakis. The council reviewed ongoing joint initiatives—most notably the GREGY electricity interconnection project—and explored future cooperation in technology, innovation, and workforce exchange programs. Implementation of the 3 GW GREGY interconnection project is scheduled to begin before the end of the second half of 2025.
Egypt Independent
08-05-2025
- Politics
- Egypt Independent
President al-Sisi, Greek PM Sign Joint Declaration on Strategic Partnership between Both Countries
Egyptian President Abdel Fattah al-Sisi and Greek Prime Minister Kyriakos Mitsotakis signed a joint declaration on the strategic partnership between Egypt and Greece. The president and the Greek premier also witnessed the inking of several memoranda of understanding, reflecting the depth of bilateral relations between the two countries. The signing of the declaration came after talks between President al-Sisi and the Greek premier within the framework of the president's official visit to Greece. The tete-a-tete meeting was followed by a plenary session attended by delegations of both countries. Then, a lunch banquet was held in honor of President Sisi, Presidential Spokesman Mohamed Shennawy said. The talks tackled means of enhancing bilateral ties, including intensifying cooperation within the East Mediterranean Gas Forum and the trilateral mechanism between Egypt, Greece, and Cyprus. The talks also reviewed the latest regional developments, notably the situation in Gaza. The two sides underlined the importance of resuming the ceasefire agreement, releasing prisoners and captives, and ensuring the delivery of sufficient humanitarian aid to the enclave which suffers from escalating humanitarian crisis. The two sides also reiterated the importance of implementing the two-state solution as the sole guarantee for lasting peace and stability in the region, calling for rallying up regional and international efforts to prevent escalation or expansion of the conflict in the region. The talks also reviewed the latest developments in the Eastern Mediterranean region, with President Sisi welcoming the current de-escalation efforts. They also discussed the conditions in Syria, Lebanon, Libya, Sudan, navigation security in the Red Sea, and the Russia-Ukraine crisis. Following the talks, the two leaders chaired the first meeting of the High-Level Cooperation Council between Egypt and Greece. The council tackled the progress realized so far in bilateral cooperation and the ongoing joint projects in various domains, topped by the electricity interconnection project between the two countries (GREGY). The GREGY project represents a strategic step toward enhancing energy security in the region and the European Union as it is the first direct link for clean energy from Egypt to Europe via Greece. The talks also tackled cooperation in the fields of technology, innovation, entrepreneurship, legal migration, and seasonal labor recruitment. President Sisi highlighted the council's importance as a quantum leap in promoting bilateral relations, enhancing close communication and coordination vis-a-vis issues of mutual concern, bolstering economic and developmental cooperation, exchanging expertise, and collaborating in vital fields such as transport, environment, maritime security, education, manufacturing, energy, and combating illegal migration and terrorism in light of Egypt's successful experience in these areas. President Sisi and Prime Minister Mitsotakis held a joint press conference to discuss the outcomes of their talks and the main issues addressed.
Egypt Today
07-05-2025
- Business
- Egypt Today
Egypt, Greece sign strategic partnership declaration; Sisi hails ‘new phase of close cooperation'
Egyptian President Abdel Fattah El-Sisi speaks during a joint press conference with Greek Prime Minister Kyriakos Mitsotakis in Athens, May 7, 2025 – Egyptian Presidency/Still image CAIRO – 7 May 2025: President Abdel Fattah El-Sisi said he signed a joint declaration on a strategic partnership between Egypt and Greece during his meeting with Greek Prime Minister Kyriakos Mitsotakis on Wednesday. Speaking at a press conference alongside Mitsotakis, Sisi stated that the declaration 'consolidates the deep and distinguished relations between our two friendly countries and establishes a new phase of close cooperation on all levels.' Sisi also commended the convening of the first High-Level Cooperation Council meeting between Egypt and Greece today, describing it as 'a pivotal station and a qualitative leap in the path of Egyptian-Greek relations.' Sisi added that the council 'embodies the shared political will to elevate the level of bilateral coordination and cooperation.' Comprehensive Relations Sisi hailed the 'tangible outcome' of the council meeting, especially with both countries agreeing to expand the scope of cooperation to include the fields of economy, trade, investment, tourism, technology, and entrepreneurship, as well as energy, security, and migration. Sisi emphasized the great importance Egypt attaches to the electricity interconnection project between Egypt and Greece, known as GREGY, lauding the project as 'a strategic step with regional and international dimensions.' The president emphasized that GREGY is 'the first direct connection of clean energy coming from Egypt to Europe via Greece.' Sisi said Egypt looks forward to the continued support of the European Union for this ambitious project and for the acceleration of its implementation steps. He also noted Egypt's interest in continuing cooperation with Greece in the field of natural gas. The president called for expediting the implementation of the agreement to bring Egyptian seasonal workers to work in sectors where Greece wishes to recruit labor. He called for intensifying joint cooperation between the two countries in the fields of combating terrorism and illegal immigration, based on the successful Egyptian experience in these two areas. 'Protecting Saint Catherine's Monastery' Sisi affirmed Egypt's commitment to protecting Saint Catherine's Monastery in South Sinai, denying rumors circulating about any negative actions by Egypt towards the monastery. Late last year, the Egyptian government denied any threats or plans to evacuate Saint Catherine's Monastery, which belongs to the Greek Orthodox Church, was built in the sixth century, and is under Greek supervision. 'I was very upset when the topic of Saint Catherine's Monastery was raised and that Egypt might take any negative action... not only because of the monastery's status, but because this contradicts the principles of Egyptian belief and policy that we practice,' the President stated. He continued, 'When extremists burned 65 churches in Egypt, we rebuilt them again, and we are building places of worship for Muslims and Christians in new communities.' 'If I had Jewish citizens, I would build synagogues for them,' he added. The president said he is denying these rumors in light of the historical relationship and the great affection between the Egyptian and Greek people. 'I became very concerned that this affection is being tampered with through a sensitive issue like this, and this will not happen.' Sisi underlined his and Egypt's commitment to the connection between Saint Catherine's Monastery and the Egyptian state as 'a perpetual contract that no one can touch.' 'This [monastery] carries within it the remains of a saint for more than 1500 years … Anyone who visits Egypt, we tell them, 'Come and see Saint Catherine's Monastery, of a great saint who was a believer at a time when there was no faith.'' 'Our people in Egypt and Greece are one people.' 'Starvation as a Weapon' in Gaza Sisi said that he exchanged views with Mitsotakis on many regional and international issues. Most notably, they discussed the dangerous developments in the Middle East resulting from the Israeli war on Gaza, and the ongoing humanitarian catastrophe in the enclave for over 18 months. Sisi said he affirmed Egypt's firm position on the need to revive the ceasefire agreement in Gaza and release prisoners and captives. He also called for ensuring the entry of humanitarian aid in sufficient quantities, stressing rejection of 'the use of starvation and denial of medical services as a weapon against civilians.'
Middle East
01-05-2025
- Business
- Middle East
EBRD, ELICA sign grant agreement for Egypt-Greece electricity interconnection project
A grant agreement was signed between the European Bank for Reconstruction and Development (EBRD) and ELICA INTERCONNECTOR S.M. S.A., a company of Copelouzos Group, for the funding of the first studies for the Egypt–Greece electrical interconnection project. A major milestone for the acceleration of the implementation of the emblematic Egypt–Greece electricity interconnection project (GREGY) was achieved Wednesday with the signing of the grant agreement. Egypt–Greece electricity interconnection project (GREGY) constitutes a cornerstone for strengthening Europe's energy security and green transition, was achieved Wednesday with the signing of the grant agreement. The GREGY project involves the creation of a vertical green energy corridor from South to North which will transfer clean, competitively priced and with a continuous flow energy from renewable energy sources (RES), produced in Egypt to Greece and from Greece to Europe. Egypt possesses exceptionally high-capacity factors in solar and wind energy, which will be used to meet Europe's increasing demand for green energy, particularly in the context of the strategic effort to reduce reliance on Russian natural gas and to enhance the security of energy supply. The agreement concerns the funding of part of the cost of the first two studies of the GREGY project: the Desktop Study, which will determine the optimal routing of the submarine cable, and the comprehensive Cost-Benefit and Technical Analysis (CBA and Technical Analysis). These studies are crucial for the maturity of the project and its fast implementation. GREGY has already been recognized as a project of major geopolitical and environmental importance for the whole of Europe. This advisory support will be financed under the European Union's InvestEU Advisory Hub of which the EBRD is a key implementing partner. 'We are delighted to support this project, which aligns perfectly with the EBRD's priorities such as market integration, green energy transition, and energy security. We are also very grateful to the European Union for their invaluable support in advancing this highly important regional project,' said Grzegorz Zieliński, EBRD Director, Head of Energy Europe. Mr. Ioannis Karydas, CEO of the Renewable Energy and Energy Storage Business Unit of Copelouzos Group and CEO of ELICA INTERCONNECTOR S.M. S.A., stated: "GREGY is a bridge of sustainable development, energy independence and peace. Through the Egypt–Greece interconnection, we are making a meaningful contribution to Europe's energy security, the decarbonization of our energy systems and the strengthening of the cooperation bonds between our peoples. Today's agreement confirms our commitment to play a leading role in projects that shape a better future for our region — to the benefit of the European market, the national economy and consumers." The signing ceremony took place today in the presence of the Ambassador of Egypt to Greece, Mr. Omar Amer Youssef, who underlined the significance of the interconnection for strengthening Europe–Africa energy cooperation, supporting the region's economic prosperity and advancing joint green growth. GREGY project envisages the establishment of a green energy corridor, through which clean electricity generated from Renewable Energy Sources along the North African coast will be transferred to Europe via a submarine cable. Such energy will be used to meet the needs of the Greek industry and to produce green hydrogen, while a part of it will be directed to the countries of the European Union, making a significant contribution to the energy transition, by reducing natural gas consumption by 4.5 billion cubic meters annually and achieving a reduction in carbon dioxide emissions by 10 million tons each year. The GREGY project has been included in the 1st list of Projects of Common/Mutual Interest (PCI/PMI) of the European Union, as well as in the EU's Global Gateway flagship infrastructure projects.
See - Sada Elbalad
30-04-2025
- Business
- See - Sada Elbalad
EBRD, EU Support GREGY Project
Nada Mustafa A Grant Agreement was signed with ELICA INTERCONNECTOR S.M. S.A. of Copelouzos Group for the funding of the first studies for the Egypt–Greece electrical interconnection project. A major milestone for the acceleration of the implementation of the emblematic Egypt–Greece electricity interconnection project (GREGY), which constitutes a cornerstone for strengthening Europe's energy security and green transition, was achieved today with the signing of a Grant Agreement between the European Bank for Reconstruction and Development (EBRD) and ELICA INTERCONNECTOR S.M. S.A., a company of Copelouzos Group. The GREGY project involves the creation of a vertical green energy corridor from South to North which will transfer clean, competitively priced and with a continuous flow energy from renewable energy sources (RES), produced in Egypt to Greece and from Greece to Europe. Egypt possesses exceptionally high-capacity factors in solar and wind energy, which will be used to meet Europe's increasing demand for green energy, particularly in the context of the strategic effort to reduce reliance on Russian natural gas and to enhance the security of energy supply. The agreement concerns the funding of part of the cost of the first two studies of the GREGY project: the Desktop Study, which will determine the optimal routing of the submarine cable, and the comprehensive Cost-Benefit and Technical Analysis (CBA and Technical Analysis). These studies are crucial for the maturity of the project and its fast implementation. GREGY has already been recognized as a project of major geopolitical and environmental importance for the whole of Europe. This advisory support will be financed under the European Union's InvestEU Advisory Hub of which the EBRD is a key implementing partner. 'We are delighted to support this project, which aligns perfectly with the EBRD's priorities such as market integration, green energy transition, and energy security. We are also very grateful to the European Union for their invaluable support in advancing this highly important regional project,' said Grzegorz Zieliński, EBRD Director, Head of Energy Europe. Mr. Ioannis Karydas, CEO of the Renewable Energy and Energy Storage Business Unit of Copelouzos Group and CEO of ELICA INTERCONNECTOR S.M. S.A., stated: "GREGY is a bridge of sustainable development, energy independence and peace. Through the Egypt–Greece interconnection, we are making a meaningful contribution to Europe's energy security, the decarbonization of our energy systems and the strengthening of the cooperation bonds between our peoples. Today's agreement confirms our commitment to play a leading role in projects that shape a better future for our region — to the benefit of the European market, the national economy and consumers." The signing ceremony took place today in the presence of the Ambassador of Egypt to Greece, Mr. Omar Amer Youssef, who underlined the significance of the interconnection for strengthening Europe–Africa energy cooperation, supporting the region's economic prosperity and advancing joint green growth. GREGY project envisages the establishment of a green energy corridor, through which clean electricity generated from Renewable Energy Sources along the North African coast will be transferred to Europe via a submarine cable. Such energy will be used to meet the needs of the Greek industry and to produce green hydrogen, while a part of it will be directed to the countries of the European Union, making a significant contribution to the energy transition, by reducing natural gas consumption by 4.5 billion cubic meters annually and achieving a reduction in carbon dioxide emissions by 10 million tons each year. The GREGY project has been included in the 1st list of Projects of Common / Mutual Interest (PCI/PMI) of the European Union, as well as in the EU's Global Gateway flagship infrastructure projects. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Egypt confirms denial of airspace access to US B-52 bombers News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia Lifestyle Pistachio and Raspberry Cheesecake Domes Recipe News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Arts & Culture Nicole Kidman and Keith Urban's $4.7M LA Home Burglarized Videos & Features Bouchra Dahlab Crowned Miss Arab World 2025 .. 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