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Greece is pressing Cyprus to make up its mind about a major electricity project linking the island to Greece and Israel, after Cypriot Finance Minister Makis Keravnos publicly questioned whether the multibillion-euro plan is financially viable.
Greek officials bristled at Keravnos’ remarks, warning they send “an ambiguous message” at a time when the European Union and Athens have already committed money and political weight to the Great Sea Interconnector (GSI). Greek Environment and Energy Minister Stavros Papastavrou said Wednesday that Cyprus must clarify its position, especially since the island’s energy regulator approved a €25 million payment for the project just two months ago.
“The project is critical for Cyprus because it will end its energy isolation,” Papastavrou told Greece’s state broadcaster, ERT. He also questioned why the feasibility studies Keravnos cited had not been shared with Athens, stressing that Greece remains firmly committed to moving ahead.
Keravnos’ comments, published in Kathimerini’s Sunday edition, highlighted growing rifts within Nicosia’s leadership. Cyprus’ energy minister is still backing the project, while President Nikos Christodoulides has avoided taking sides, saying only that the deal depends on Greece’s state grid operator meeting its obligations.
The GSI is classified as a priority project by the EU and is designed to connect Israel, Cyprus, and Greece to the European power grid. But the debate in Nicosia has spilled over into Athens, where officials are pressing for clarity, warning that wavering from Cyprus could jeopardize funding and momentum.
The dispute comes as EU prosecutors investigate the project’s financing, reviewing hundreds of millions of euros in contracts and grants amid concerns of mismanaged funds.
For Athens, the cable is not just about energy security but also about cementing Greece’s role in the region’s energy network. For Cyprus, questions from its own finance minister have left its partners, and the project itself, in limbo.
