NICOSIA (Reuters) – Progress has been made in talks between Cyprus and Greece over the construction of a high-speed electricity grid linking Europe to the Middle East via the Mediterranean Sea, a Cypriot official said on Tuesday.
The so-called Great Sea Interconnector (GSI) aims to connect Greece’s transmission networks via Crete, Cyprus and eventually Israel in a project costing 2.4 billion euros ($2.67 billion). Up to Cyprus, the cable is estimated to cost 1.9 billion euros.
When completed, it will be the world’s longest, at 1,240 km, and deepest, at 3,000 metres, high-voltage direct current (HVDC) interconnector. The European Union has said it is willing to finance part of it, which is currently scheduled for completion around 2030.
But the ambitious project touches on a complex patchwork of overlapping jurisdictional claims between Greece, Cyprus and regional rival Turkey in the Mediterranean, an issue that could come up again in the future.
Cyprus wanted clarity on how much it would contribute to the project and what would happen if “geopolitical risks” – potential opposition from Turkey – materialised and caused delays and possible additional costs.
“In recent days, talks between the parties have continued and progress has been made,” said Yiannis Antoniou, the government’s deputy spokesman.
Antoniou said it was possible the issue would be discussed at a cabinet meeting scheduled for later on Tuesday. It would also be discussed at a meeting between Cypriot President Nikos Christodoulides and Greek Prime Minister Kyriakos Mitsotakis in Athens on Thursday, he told Reuters.
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(Reporting by Michele Kambas; Editing by Sonali Paul)
