Decisive meeting for the course of project implementation Cyprus-Greece electrical interconnectionof the so-called Great Sea Interconnector, is taking place today at the Presidential Palace in Nicosia. All the parties involved (Commission, ADMIE, NEXANS) will be present at the meeting, while the Greek Government will be represented by the Minister of Energy, Theodoros Skylakakis. Although no announcements are expected today, the residents of Jerusalem know that the implementation of the project – that is, the construction and installation of a cable that will electrically connect Cyprus to Crete – will be determined by whether the differences between the sides will be bridged during the today’s meeting or not.

Athens-Nicosia dispute

From the delay that exists for the final agreement it becomes clear that Nicosia and Athens disagree on the financial aspect of the project. The Cypriot Government is seeking to ensure that implementation costs do not skyrocket, while at the same time trying to get concrete answers on the steps to be followed in the event that the project is ultimately not implemented. “As a responsible government, we will take a decision and we will not financially burden either the state or the citizens,” Cypriot President Nikos Christodoulidis said on Saturday. Dissatisfaction with the Cypriot withdrawals is being broadcast from Athens, with the Greek Minister of Energy asking the Cypriot Government to make specific changes to the existing regulatory framework, which would ensure profitability for investors.

Geopolitical value

Beyond the financial aspect, the Cyprus Government is under pressure to facilitate the implementation of the project and for geopolitical reasons, as the cable will essentially connect continental Europe with the Middle East, since the termination of the electrical interconnection will end in Israel. The statements of the American ambassador to Cyprus from Thessaloniki in the context of the Economist conference were typical. Julie Fisher, in her intervention, sent a message about the construction of the Great Sea Interconnector stating that “now is the time to act”.