FAMAGUSTA GAZETTE – A rift has reportedly emerged within the Cypriot government over the stalled Great Sea Interconnector (GSI), a €1.4 billion submarine electricity cable project linking Cyprus to Greece.
Media reports suggest Finance Minister Makis Keravnos has refused to authorize a €25 million annual payment to ADMIE, the Greek transmission operator overseeing the project, citing geopolitical risks and lack of progress.
According to Kathimerini, ADMIE’s request exceeds the terms of the September 2024 agreement, prompting Keravnos to push back.
He warned that without visible work at sea—not just cable production at Nexans’ factory—the project remains too uncertain to justify further spending. Energy Minister George Papanastasiou, however, continues to engage with Greece and the EU, maintaining that the project is strategically vital despite Turkish objections to seabed surveys.
President Nikos Christodoulides has so far remained silent, failing to reconcile the opposing views within his cabinet. The dispute has stirred public frustration, especially as EU officials express support for the interconnector but offer no concrete action to counter Turkish interference.
Alithia added fuel to the fire with its headline “A Government Without Connections,” reporting that Keravnos is unwilling to commit funds to a project that may never materialize. If no progress is made by October, Cyprus is expected to escalate the issue to the Council of Energy Ministers.