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Cyprus-Israel Electricity Link Agreement: A Game-Changer in Energy Security

by News Editor

May 5, 2025

An influential agreement to integrate the electricity grids of Cyprus and Israel is projected to be signed by 2025, as confirmed by the Israeli Prime Minister’s office. This ground-breaking deal is a pivotal element of the India-Middle East-Europe Economic Corridor (Imec), a broader initiative enhancing energy connections across continents.

Laying the Foundation for Energy Security

In a recent meeting, Israel’s Prime Minister Benjamin Netanyahu and Cyprus President Nikos Christodoulides, alongside their energy ministers, discussed the plan to lay an undersea cable. This vital infrastructure will not only connect the two nations but will also link Cyprus to mainland Europe, expanding routes for energy exchange between East and West.

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The interconnection is necessary for energy security, particularly for Israel, often referred to as an ‘energy island’ due to its isolated power grid. This strategic link offers a new avenue for energy distribution and security.

Broader Implications of the Imec Initiative

Once integrated, this electricity link will contribute significantly to the worldwide Imec initiative, a U.S.-led project designed to solidify ties between India, the Middle East, and Europe. The plan also included deep discussions on how to resolve the shared Aphrodite-Ishai natural gas field, with a final agreement anticipated soon.

Such developments complement ongoing discussions about the energy landscape and market dynamics, similar to how OPEC+ decisions affect oil prices, as highlighted in another analysis.

Humanitarian Aspects at the Forefront

Leaders also emphasized humanitarian efforts in Gaza, with President Christodoulides advocating for a consistent aid channel through Cyprus, proposing an ongoing framework for humanitarian collaboration.

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Evel Elects New President As Maria Theocharous Takes Over For 2026–2029 Term

by THEFUTURE.TEAM

November 12, 2026

Maria Theocharous has been elected president of the Limassol Chamber of Commerce and Industry (Evel), taking over from Yiannis Tsouloftas for a three-year term covering 2026–2029. Theocharous previously served as the chamber’s vice-president for tourism.

The leadership transition marks a new chapter for one of Cyprus’ main regional business organisations, with the new board set to represent the district’s key economic sectors.

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New Leadership Emphasises Cooperation

The chamber’s annual meeting brought together government, business and local authority representatives, including Energy, Commerce and Industry Minister Michael Damianos, Cyprus Chamber of Commerce and Industry (Keve) president Stavros Stavrou, Limassol district local government organisation president Yiannis Tsouloftas and Limassol mayor Yiannis Armeftis.

Speakers highlighted the importance of closer cooperation between public authorities and businesses in supporting Limassol’s economic development.

Representatives of the Cyprus Shipping Chamber (CSC) also congratulated Theocharous on her election and thanked the outgoing president for his cooperation. The CSC described Evel as a longstanding partner, noting the chamber’s contribution to Limassol’s business development over more than six decades.

Tsouloftas Reviews Six Years As President

In his final address, Tsouloftas reviewed the chamber’s work between 2020 and 2026, highlighting its advocacy for major infrastructure projects and efforts to address development challenges across the district.

He also outlined initiatives to remove obstacles facing local businesses, accelerate development plans and improve the conditions for economic activity.

Tsouloftas will remain involved as immediate past president, providing continuity during the transition.

New Board Covers Key Business Sectors

The new board includes representatives responsible for the chamber’s main portfolios:

Ilikos Charalambous, vice-president for commerce
Vasos Demetriades, vice-president for industry
Christos Nicolaou, vice-president for services
Nicolas Agiomamitis, vice-president for tourism
Ilias Theodorou, vice-president for finance
Demosthenes Mavrellis, vice-president for innovation and technology
Ilias Neocleous, honorary secretary

Other board members are Minos Agathocleous, Marios Antoniou, George Demetriou, Anastasios Kounoudis, Marios Constantinou, Xanthos Nemptsas, Antonis Pappas, Charalambos Pattichis, Chrysis Petousis, Farah Shammas, Andreas Tsouloftas and Kyriacos Hadjiathanasiou.

Costas Ioannides, Agathi Katsi, Anna Petraki, Filippos Filis and Tonis Hadjiloucas have been appointed members by distinction. The chamber also highlighted the growing participation of women in business leadership and decision-making.

Chamber Recognises Longstanding Contributions

The annual meeting also recognised businesses and individuals for their contributions, including members who have maintained continuous membership for 50 years.

Tributes were paid to three former contributors to the chamber, Tonis Antoniou, Dimi Mavropoulos and Andreas Laou, in recognition of their service.

Under Theocharous’ leadership, Evel begins its 2026–2029 term with a board covering commerce, industry, services, tourism, finance and innovation. Its priorities include continuing to represent Limassol businesses and advocating for the investment and cooperation needed to support the district’s economic growth.