Reviving Greece-Cyprus Energy Link: A Fresh Start for the Great Sea Interconnector

Greece plans to hire an external adviser to assess costs for the stalled Great Sea Interconnector project, connecting Europe to Cyprus via undersea cables. With a 1.9 billion euro budget, delays have been due to geopolitical tensions. Greece and Cyprus seek investors to support the project.

Greece is taking steps to reignite momentum for the ambitious Great Sea Interconnector project, an undersea power cable linking mainland Europe to Cyprus. Slated as one of the world's largest of its kind, the initiative has faced setbacks, primarily due to geopolitical tensions in the eastern Mediterranean and disputes over cost and liability issues.

Energy Minister Stavros Papastavrou announced on Tuesday that Greece will engage an external adviser to reevaluate the project's expenses. The strategic move aims to reassure potential investors from the Middle East and the Americas, and drive new investment to bring the project to fruition.

Despite the delays, both Greece and Cyprus remain committed to the energy link. Cyprus is exploring a possible collaboration with the United Arab Emirates, while French company Nexans is adjusting delivery timelines after securing a major contract. The estimated budget for the Great Sea Interconnector, partially funded by the European Union, stands at 1.9 billion euros.

(With inputs from agencies.)