Giorgos Papanastasiou

The geopolitical risks associated with constructing the Great Sea Interconnector, linking Greece, Cyprus, and Israel, are considered manageable, stated Cypriot Energy Minister Giorgos Papanastasiou during the second Greece-Cyprus Intergovernmental Summit in Nicosia.

Cyprus' Minister of Energy, Commerce and Industry Giorgos Papanastasiou praised the expanding momentum in Cypriot export activity, stressing that in 2023 exports rose by an annual 38%, continuing their steady rising trend in recent years.

The Council of Ministers of Cyprus gave the green light to the proposal submitted by the Ministry of Energy for changes to the regulatory framework governing the Cyprus-Crete electricity interconnection.

It is noted that the Cypriot presidency has announced that statements are expected at 6 p.m. by the Minister of Energy, Giorgos Papanastasiou, at the Presidential Palace.

In their telephone discussion, Cohen emphasized the importance of the “Great Sea Interconnector” project, describing it as a “pioneering initiative” that would “enhance regional energy security.”

In a detailed statement, Cohen said:

Cyprus has yet to decide whether it will remain the last energy-isolated country in the EU or gain access to the European electricity market through Greece.

Τhe Cypriot government will request that Greece's Independent Power Transmission Operator (ADMIE) carry out a cost-benefit study as regards the Cyprus-Greece electricity interconnection (Great Sea Interconnector), Cypriot Energy Minister Giorgos Papanastasiou said on Tuesday.

Oil and gas company Chevron is "positive" about an Israeli-Cypriot plan for a pipeline that would convey offshore natural gas from both countries to Cyprus where it would be liquefied for export by ship to Europe and elsewhere, an official said Friday.