President Christodoulides has reaffirmed Cyprus’s commitment to the Great Sea Interconnector project whilst addressing mounting tensions with Greece over financial arrangements and EU investigation delays that threaten the €9 billion initiative.
Speaking to journalists in Paralimni today, Christodoulides responded to recent statements by Greek Prime Minister Kyriakos Mitsotakis regarding the EuroAsia Interconnector, outlining three fundamental points that underscore Cyprus’s position on the geopolitically significant infrastructure development.
The project faces a critical impasse over Cyprus’s reluctance to accept Greece’s revised payment schedule for recovering €125 million in total costs. Greece has proposed Cyprus pay €25 million annually from 2025 to 2030, rather than the previously agreed timeline beginning in 2030, though Cyprus has not confirmed acceptance of these modified terms.
The European Chief Public Prosecutor’s Office launched an investigation into the Great Sea Interconnector project last week over corruption claims, with Christodoulides acknowledging that Brussels’ intervention “naturally brings delays” to the timeline, though he maintained there were no direct disputes with the Greek government.
The president noted that Cyprus’s commitment extends beyond rhetoric, citing recent diplomatic initiatives including his visit to the United Arab Emirates alongside the Foreign Minister. Discussions with the UAE leadership explored potential collaboration through joint ventures and strategic investments designed to strengthen project implementation.
Christodoulides confirmed both Cyprus and Greece have undertaken specific commitments within the interconnection framework, with Nicosia prepared to fulfil obligations entirely whilst expressing expectations that all parties demonstrate equivalent dedication.
The president highlighted national sovereignty dimensions within the project, stating his intention to avoid public confrontations that might undermine Cyprus’s national interests. “It matters that we say less and do more,” he remarked.
Project background
The EuroAsia Interconnector represents a 1,000MW high-voltage direct current subsea cable system connecting Israel, Cyprus, and Greece with the European transmission network across 1,518 kilometres. The EU Project of Common Interest, described as the world’s deepest and longest submarine electricity interconnection, aims for completion by late 2026.
The interconnector would end Cyprus’s energy isolation whilst creating an energy corridor between Europe, Asia, and Africa, potentially transforming regional energy security through access to Cypriot and Israeli gas reserves alongside renewable energy sources.
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