Cyprus and Greece are making significant progress in discussions regarding the construction of a high-speed electric cable network connecting Europe to the Middle East through the Mediterranean seabed. The project, known as the Great Sea Interconnector (GSI), aims to link the transmission networks of Greece, Crete, Cyprus, and eventually Israel at a cost of 2.4 billion euros. The cable up to Cyprus alone is estimated at 1.9 billion euros, making it the longest and deepest high voltage direct current (HVDC) interconnector in the world once completed.
The European Union has expressed willingness to provide funding for the project, expected to be completed around 2030. However, the intricate web of jurisdictional claims involving Greece, Cyprus, and Turkey in the Mediterranean could pose challenges in the future. Cyprus is seeking clarity on its financial obligations and potential geopolitical risks, particularly with regard to Turkey’s possible opposition.
Yiannis Antoniou, the deputy government spokesperson, confirmed progress in recent talks and hinted at further discussions in cabinet meetings and a scheduled meeting between Cypriot President Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis in Athens. The GSI project signifies a significant step towards greater connectivity between Europe and the Middle East.