The President of the Democratic Party highlighted the strategic and geopolitical importance of the Great Sea Interconnector (GSI), as well as the need for a definitive and clear policy decision by the government, were highlighted by Democratic Alarm President Anita Dimitriou at a press conference today.
As she emphasized, the project is facing a new dynamic, as the entry of powerful international investment interests, interest in the Cyprus–Israel interconnector, and the more active involvement of Greece, France, and the U.S. highlight its broader significance and prospects.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
The DISY President emphasized that energy policy is a key pillar of the country’s development prospects and national security, especially in light of the expected increase in electricity consumption. She also noted that Cyprus needs investments that will end its energy isolation, ensure supply and lower costs for consumers, and strengthen competition and energy security.
Referring to the previous administration’s energy plan, she noted that it included the promotion of renewable energy sources, the introduction of natural gas, storage infrastructure, and power interconnections. As she emphasized, the current government’s adoption of the plan in 2023 was a positive development; however, there is now concern and disappointment regarding the delays and hesitation in decision-making.
Ms. Dimitriou also stressed that citizens continue to pay very high electricity rates, while energy isolation limits the utilization of renewable energy production and puts pressure on the power grid. In this context, she called on the government to definitively support the project, noting that recent developments, the Greek government’s stance, and the fact that a major French company has taken over implementation all strengthen the project’s prospects.
At the same time, he made it clear that DISY has no objection to conducting additional studies, provided that they are not used as a pretext for further delays, while also noting that the EU has already funded related studies, which is why a European grant of 658 million euros was approved.
On the geopolitical front, Ms. Dimitriou described Turkey as the most serious threat to the project’s implementation and emphasized the need for coordinated action by Athens and Nicosia, drawing on the support of the EU, France, the U.S., and Israel.
Finally, the DISY President announced that she will hold high-level meetings in Athens and Brussels, while also seeking cooperation with other political forces domestically. As she emphasized, the GSI can serve as a project of peace and cooperation and establish Cyprus as a regional energy hub in the coming decades.
Also present at the press conference were Mr. Nikos Georgiou, Member of Parliament and Chair of the Parliament’s Energy Committee, Mr. Giorgos Pamporidis, Member of Parliament and member of the Energy Committee; Mr. Haris Georgiadis, former Minister of Finance and President of the Glafkos Clerides Institute; Haris Georgiadis, the Head of the Energy Policy Development Team, Mr. Pavlos Liasides, and the Press Secretary, Mr. Onoufrios Koullas.
Mr. Nikos Georgiou pointed out that the government’s grand statements regarding the strategic importance of the GSI are not enough. Meaning and credibility are achieved when the government is ready to make decisions, implement what has been agreed upon, take responsibility, and ensure its implementation. The European Union has moved forward. Greece and France are moving forward. Cyprus cannot stand on the sidelines and watch developments unfold.
For his part, Mr. Haris Georgiadis, referring to the economic dimension of the issue, noted that while the cost must be calculated, the benefits must be weighed just as carefully. As for the cost, if it hypothetically reaches 3 billion euros, as he said—given that there has been a delay which increases the cost—658 million euros will be paid by the EU, 866 million euros will be paid by Greece as part of the cost-sharing arrangement, and 1,476 million, euros by Cyprus—not all at once, but over a 30-year period and under the extreme assumption that the project will generate zero revenue. This amounts to a cost of approximately 50 million euros per year, which is not negligible, but we need to keep the scale in perspective, noted Mr. Georgiadis.
That is, every year, consumers pay 2.5 billion euros through their EAC bills, to which, theoretically, 50 million euros will be added. However, the benefit relates to national and energy security, which is of paramount importance and cannot be quantified in monetary terms. Second, a geopolitical upgrade; and third, self-sufficiency. And most importantly, a reduction in costs for consumers. Weighing the costs against the benefits confirms the support we must show for this project.
Mr. Liasis, for his part, noted that there is a lot of talk in the public discourse and emphasized, among other things, that it is extremely difficult to know the facts when we are not participating. The fact, as he said, that the decision on Cyprus’s participation in this project is being delayed creates confusion regarding the facts and figures. We must have the firsthand information. For a project of this scope, participation is essential if we are to know at least all the facts.
Mr. Pamporidis, for his part, noted, among other things, that the country had formulated a strategy on energy issues during the previous administration. The current administration has, in principle, reaffirmed its commitment to this strategy. In practice, however, as he said, we do not see a corresponding commitment; rather, we see references to factors that could lead to a potential change in this strategy. These vacillations expose the country to its partners. We have highlighted this project as one of national importance, and if we have changed our position, we must state so. It is fine for the two ministers to address the specific aspects, but at the level of the President of the Republic, this vacillation must end. We must make a responsible decision that will restore our credibility regarding this specific project and allow Cyprus to enjoy the benefits that have been mentioned.
