There is progress in talks between Cyprus and Greece for the construction of a high-speed electric cable network connecting Europe with the Middle East through the bottom of the Mediterranean Sea, a Cypriot official said today, quoted by Reuters and BTA.
The so-called Great Sea Interconnector (GSI) aims to connect Greece's transmission grids via Crete, Cyprus and possibly Israel in a €2.4 billion project. The cable to Cyprus is estimated at 1.9 billion euros.
Once the project is completed, it will be the longest (1,240 km) and deepest (3,000 meters) high voltage DC interconnector in the world. European Union officials have said that the EU is willing to finance part of the project, which is currently scheduled to be completed by around 2030.
However, the ambitious project concerns a complex mix of overlapping jurisdictional claims between Greece, Cyprus and regional rival Turkey in the Mediterranean – a question that may resurface in the future.
Cyprus has asked for clarity on what it will pay for the project and what will happen if “geopolitical risks” – as the potential opposition of Turkey – which may lead to delays and possible additional costs.
„Consultations between the parties have continued in recent days and progress has been made,” said Yannis Andoniou, deputy spokesman for the Cypriot government.
Andoniou said the matter could be discussed at a cabinet meeting scheduled for later today. He added that the topic will also be discussed at a meeting between Cypriot President Nikos Christodoulidis and Greek Prime Minister Kyriakos Mitsotakis in Athens on Thursday, Andoniou told Reuters.