Cyprus, led by President Nikos Christodoulides, is open to negotiating with Turkey on energy and regional issues, aiming for stability and cooperation in the Eastern Mediterranean. The diplomatic approach signals a commitment to peaceful resolution and collaborative efforts based on international law.
President Nikos Christodoulides unveils ‘Vision 2035’ to elevate Cyprus as a top global destination for living, working, and investing, focusing on resilience, sustainability, and growth across key sectors. The strategic plan involves stabilizing the economy through fiscal discipline, engaging with local businesses, reviving the energy sector, enhancing international diplomacy, and positioning Cyprus as a reliable business hub to boost its international image.
The Great Sea Interconnector, formerly the EuroAsia Interconnector, is a pivotal undersea cable project linking Cyprus, Greece, and Israel’s electricity grids. With a budget of €1.9 billion and targeted completion in 2029, it signifies enhanced regional cooperation and energy security for Cyprus, all without imposing any costs on consumers until fully operational.
Cyprus Energy Minister George Papanastasiou’s visit to Abu Dhabi for the IRENA assembly and World Future Energy Summit emphasizes Cyprus’s dedication to renewable energy and sustainable practices for a netzero future. Through strategic dialogues and meetings with key industry leaders, Cyprus is showcasing its active role in the global energy transition and its commitment to international sustainability efforts.
Greece has warned Cyprus about the crucial importance of meeting deadlines for the Great Sea Interconnector project, connecting Israel, Cyprus, and Greece. Failing to meet these deadlines could result in Cyprus losing financial support from the European Commission and jeopardize the region’s energy integration efforts.
The Great Sea Interconnector project, aimed at unifying the electricity networks of Cyprus, Greece, and Israel, has received significant EU funding of €657 million to enhance energy security and create a greener infrastructure. Toplevel officials from Greece’s Admie are engaging in pivotal discussions in Cyprus to address the project’s progress and regulatory decisions, marking a groundbreaking initiative in the evolving energy landscape of the region.
The Aphrodite gas field development in Cyprus has made significant progress, aligning with its 2019 agreement and enhancing the country’s role in Mediterranean energy. Strategic partnerships with Chevron and potential resolutions to regional disputes underscore Cyprus’s commitment to energy development and cooperation in the region.
Energy Minister George Papanastasiou’s visit to Israel aims to discuss the planned electrical interconnector connecting Cyprus, Israel, and Greece, enhancing energy security and exploring hydrocarbon resources in the Eastern Mediterranean. With Cyprus authorizing a €100 million investment and EU financial support, the project is set to strengthen energy cooperation in the region and promote sustainable exploitation of resources.
Cyprus and Israel are joining forces to prioritize the Great Sea Interconnector, a project connecting their electricity grids to enhance regional energy security and strengthen geopolitical ties. This strategic initiative symbolizes cooperation, contributes to Europe’s energy diversification, and supports energy independence in the Eastern Mediterranean.
The Great Sea Interconnector project, costing €1.9 billion, aims to link Cyprus, Greece, and Israel through a subsea power cable. Cyprus is awaiting Admie’s costbenefit analysis to determine its €100 million investment, balancing financial risks against potential energy cost reductions and strategic benefits.
