The entry of the French company Meridiam into GSI is changing the economic and geopolitical landscape surrounding the power interconnection project, with Kyriakos Mitsotakis describing the agreement as a European project that will end Cyprus’s energy isolation. However, Nicosia is adopting a wait-and-see approach.
Finding a strong investor may have been a common goal for Nikos Christodoulides and Kyriakos Mitsotakis during their intergovernmental meeting in November. However, as the Minister of Energy stated in an interview with Alpha, the decision on Nicosia’s participation in the project’s equity structure is contingent upon the European Investment Bank’s study.
ΣΧΕΤΙΚΑ ΑΡΘΡΑ
The study, which will determine the additional cost to consumers, is expected to be delivered by November.
“We believe we will have an answer before the end of the year. Subsequently, the Republic of Cyprus itself will decide whether to participate in the project, with the 100 million that would be requested. This had also been agreed upon at the highest level between the President of the Republic and Prime Minister Mitsotakis.”
On the other hand, Michalis Diamianos’ predecessor, George Papanastasiou, is calling on the government to seek participation in the project. “If we stay out of this system, others will simply make the decisions,” he states.
France’s entry into the project is causing a stir in Ankara, which is promoting the narrative of the “blue homeland.” A telling example is the headline in Hürriyet: “By bringing a powerful French consortium into the project, Athens is attempting to gain additional political leverage against Turkey while simultaneously reinvigorating a project that has already stumbled amid the region’s geopolitical tensions.”
It is no coincidence that there is talk of the “shadow of Ankara” that continues to loom over the GSI. The reference is a direct allusion to what happened with the surveys for laying the cable and the Turkish reaction in the maritime area south of Kasos. The newspaper notes that the surveys had essentially come to a standstill following the Turkish reaction.
Regarding developments in Athens, there was a telephone conversation yesterday between Michalis Damianos and Greek Energy Minister Stavros Papastavrou.
“The project can proceed without the Republic of Cyprus participating as a shareholder, and this cost will certainly be borne by Cypriot consumers regardless of whether the Republic of Cyprus is aa shareholder.”
Michalis Damianos, Minister of Energy
The European Commission is also awaiting official notification of the agreement. At the same time, the agreement is sparking domestic political controversy, with DISY and AKEL crossing swords. Pindarou is firing shots at the government and taking jabs at AKEL.
“The government must put an end to the conflicting positions among its members, formulate a clear and unified stance, and act in full coordination with the Greek government to advance the project. It is time for the government and AKEL to recognize the strategic importance of the GSI.”
DISY
AKEL fires back at DISY.
“Obviously, DISY wants to shirk its responsibilities, which is why it has suddenly decided to accuse AKEL of alleged contradictions regarding the electricity interconnection. It seems they’ve forgotten the ridiculous celebrations at the Presidential Palace with the cable and the outlets.”
See the report by Christoforos Nestoros:
