By Gifts Antoniou

The issue of the Greece -Cyprus electric interconnection is led to serious complications after the developments in recent days, and at the moment no one can discount how things will evolve. Statements by the Minister of Finance of the Republic of Cyprus, MakiAs for the viability of the project, there are questions about whether it is possible to restart work soon, as Athens had implied.

For those who are in Jerusalem, developments in recent days have not been a thunderbolt. And this is because different approaches to different sides in Athens and Nicosia had shown in the background, which showed that there was some dimension in the way the two sides face the project. He showed, however, that these different approaches would be able to be bridged and any disagreements have been expressed from time to time to stay in the background. This situation changed with the intervention of Mr Keravnos, which brought to the forefront of the dimension of views recorded within the Cypriot government to complete the project. Athens reacted, calling on Nicosia to remain under the agreement signed by 2024 and to make a decision to release € 25m to ADMIE, as part of its participation in project funding.

The situation now seems to be further complicated, after revealing that the European Public Prosecutor’s Office is investigating the project, which was confirmed by the Commission’s spokesman for energy issues, Anna Kaiza. More details on this investigation were not announced, with the European Public Prosecutor’s own prosecutor stating that the details cannot be made public, so as not to endanger the outcome of the investigation.

“It is imperative for the Cypriot side to clarify its positions” said the government spokesman yesterday, Paul Marinakiswho also stressed that “We receive ambiguous messages for the implementation of the project.” Athens has made it clear that it is not going to be burdened with the additional costs and that all parties involved should meet their contractual obligations. The question is whether at the given context in Cyprus the block that has objected to the implementation of this energy project, in which a strong role played by economic factors active in the island’s energy field and may consider themselves to be affected by their own interests and investments. Or if it is a tactic to ensure better terms of the Cypriot side participation in the project.

The time chosen by Mr. Keravnos to make doubts about the financial viability of the project is anything but accidental. The work was essentially frozen since the summer of 2024, after Ankara’s intervention in the field, first in Kaso and then in the maritime area east of Crete. It might have been considered that this situation would be extended. Athens, however, is increasingly emphatically reiterating that the project will be completed and has announced that work on the cable should be started soon. Maybe it’s exactly the prospect of resuming the project that brought these statements from the Cypriot side.

Athens reiterates that it remains committed to implementing the project, but it is clear that the new data that came to the forefront are causing new complications. If the picture does not clarify soon, the continuation of the work is unmoved if and when it is possible.