Nicosia, Cyprus. European Energy Commissioner Dan Jorgensen said the European Commission’s commitment to the planned Great Sea Interconnector project is “crystal clear”. The project, if completed, would link the energy grids of Cyprus, Greece and Israel.
European Commission support and expected benefits
Jorgensen said the European Commission “has always supported and keeps supporting the Great Sea Interconnector as a key strategic energy link.” He said the project would “end Cyprus’ energy isolation,” “secure the stability of the electrical network throughout the entire island,” and “fundamentally, lower energy prices.”
Regional impact and energy security
Jorgensen said the interconnector could enhance “regional security of supply and market integration,” and accelerate the integration of “cheap and sustainable renewable energy in the eastern Mediterranean.” He said this would come at a time when Europe is facing “yet another energy crisis related to our dependency on fossil fuels,” and referred to the closure of the Strait of Hormuz amid the United States’ and Israel’s war with Iran, which he said has destabilised global oil supplies in recent months.
EU status, grants and priority designation
Jorgensen said the commission granted the project the status of a project of common interest to facilitate implementation, alongside almost €658 million in grants. He described it as “one of the biggest grants ever” awarded under the EU’s Connecting Europe Facility, a funding instrument aimed at developing infrastructure across the bloc.
He said the commission has also designated the project as one of eight energy highways it wants to prioritise to complete its energy union, alongside other electrical interconnectors and hydrogen and gas pipelines stretching from Denmark in the north to Tunisia in the south.
Meeting with Cyprus, Greece and the European Investment Bank
Jorgensen said he convened a meeting with Cypriot Energy Minister Michael Damianos and Greek Energy Minister Stavros Papastavrou, and that the three also met representatives of the European Investment Bank to give “new impetus” to the project’s implementation.
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