Greek minister calls Great Sea Interconnector a European issue

Athens, Greece. Greek Energy Minister Stavros Papastavrou said on Thursday that the Great Sea Interconnector, which would link the electricity grids of Cyprus, Greece and Israel if completed, is a European issue.

He said the agreement for French asset management firm Meridiam to acquire a controlling stake in the project had created momentum for its acceleration and implementation.

European participation

Papastavrou said geopolitical and financial issues affecting the project in recent years would not be resolved immediately, but that a new dynamic would help address the difficulties.

He said the project was broadening the base of its participants and was not solely an issue involving Greece, Cyprus and Turkey.

The minister said Meridiam’s involvement demonstrated the close relations between Greece and France. Meridiam took control of the project from Greece’s independent power transmission system operator Admie, which retained a minority stake.

Energy security

Papastavrou said Admie was joining forces with a major French investment group which had built the subsea electricity interconnection between the United Kingdom and Germany, a project valued at €2.8 billion and of similar technical difficulty.

He said electrical interconnections were essential for the energy security of Europe, particularly in the eastern Mediterranean, and that work was progressing towards completing the electricity connection between Greece, Cyprus and Israel.

Turkish opposition

Asked about potential Turkish opposition to the cable, which may pass through disputed waters, Papastavrou said Greece should rely on its own strengths while building strong alliances.

He said the exercise of sovereign rights in the area was not dependent on others’ reactions, but on determination within the framework of international law and the law of the sea, alongside the creation of alliances and cooperation.