Cyprus’s Energy Minister, George Papanastasiou, announced on Thursday that Abu Dhabi’s TAQA is interested in investing in and supporting the Great Sea Interconnector (GSI) project.
The GSI cable, costing €1.9 billion will link Europe’s transmission networks to Cyprus and later extend to Israel, enhancing energy security and efficiency.
Speaking at the Investopia conference in Abu Dhabi, Papanastasiou also revealed that the Abu Dhabi National Oil Company (ADNOC) has expressed interest in Cyprus’s Exclusive Economic Zone (EEZ).
ADNOC had previously shown interest in Cyprus’s natural gas sector.
The GSI project, designated a Project of Common Interest by the EU, will span 1,208 km, connecting Greece, Cyprus, and Israel.
Funded partially by the Connecting Europe Facility, it aims to provide a reliable and green energy supply, significantly reducing CO₂ emissions.
The project is expected to be completed in two phases by 2029.