Papanastasiu: Turkey's Stance Remains the Biggest Concern in Electric Cable Project

Following a meeting between Papanastasiu and his Greek counterpart Theodoros Skilakakis in Athens yesterday, it was reported that the procedure for South Cyprus to become a shareholder in the Great Sea Interconnector (GSI) project, which will connect Crete to South Cyprus, has been reactivated. Still, Turkey's position remains the primary source of concern.

According to Politis, citing informed sources, there is now no longer a dispute between Greece and South Cyprus regarding the implementation of GSI. At this stage, Turkey's stance remains the biggest concern. The report noted that Turkey has sent naval forces to monitor preparations for the cable laying off the coast of Crete but has not intervened so far.

The Greek Cypriot administration had submitted a legal study regarding the sustainability and ownership of the GSI project to Greek authorities on December 3, 2024. Following their meeting, Papanastasiu received a lengthy letter from Skilakakis addressing these concerns.

Papanastasiu emphasized that the next step in securing a stake in the project, which will connect Greece to South Cyprus and then to Israel, depends on the response to the letter, which he claimed addressed all the administration's concerns.

The report also highlighted that foreign investors, particularly those from state-backed entities or large countries, are awaiting the Greek Cypriot administration's move to ensure political security for the project.

The article also noted that while the vessels "Levoli Relume" and "NG Worker" were conducting research for the cable laying off the coast of Crete, Turkish naval forces had appeared in the area, causing additional concern. The final stages of seabed research in international waters are nearing completion, and Greece is expected to announce a new NAVTEX (maritime notice).