For a new sustainability study, they refer to her work electrical interconnection between Greece and Cyprus the two governments, in order to clarify the picture of the economic dimension and the cost of the interconnection and thus to overcome the important obstacles that have arisen and have led to the “freezing” of this important, from an economic and geopolitical point of view, project.
THE Kyriakos Mitsotakis and the Nikos Christodoulidis they were sparing in their public statements at the Maximos Palace, after the Intergovernmental Conference of the two governments, as the electrical interconnection is an extremely delicate issue that had led to misunderstandings and tensions in the past and in fact there was no mention of the GSI (Great Sea Interconnector) in the Joint Communiqué. The two sides agreed that there should be a “restart” that will work positively to avoid a wreck in this important project.
All the previous period there was the big and important issue of “geopolitical risk”, which concerns Turkey’s opposition to the project. At the same time, there were also serious financial implications due to the questioning of the viability of the project by the Cypriot finance minister M. Keravnobut also questioning the amount of expenses that had been paid so far by the administrator ADMIEwhich reached 250 million euros.
The Cypriot side, in fact, as long as there was this questioning of the essential viability of the project and the investigations had not started again, had refused to pay the first annual installment of 25 million euros provided for in the agreement of the Regulatory Authorities of the two countries.
Nicosia insisted on its position and, in order to avoid a deadlock, the “golden ratio” of updating the technical parameters of the Greece-Cyprus interconnection project was decided.
It was perhaps the only option at this stage, so as not to lead the project to a final wreck and not to record an important tactical “victory” of Turkeywhich would thus appear to impose its will on the Eastern Mediterranean.
Of course, the estimates are that the new study will show that the construction costs of the project have increased, which will create a first snag and make it necessary to find investors, who are estimated to be sought in the Gulf countries.
A diplomatic source, however, estimates that, under the conditions that have developed, with the active intervention of USA to promote the alternative energy source to Eastern Europe through Greece, revive the 3+1 scheme and support interconnections in the region, it will be a difficult decision for Turkey to send warships again in order to block the research.
The same source believes that, as soon as the new viability studies are completed and the search for investors begins, then the “green light” should be given for the issuance of the necessary NAVTEX for the resumption of research, in which case Turkey’s endurance will also be tested. However, it is a given that, if a positive message is not given by restarting the investigations, then the climate in relation to the search for investors will be negatively affected.
Turkey, however, does not stay idle in the latest developments. T. Erdogan and H. Fidan hosted Egyptian Foreign Minister M. Abdelati yesterday in Ankara. Having Gaza as a “glue”, a strong dose of revitalization of bilateral relations was given, while — as it became known — the foundations were laid for the convening of an Intergovernmental Conference between the two countries in Cairo, with the participation of T. Erdogan. The two foreign ministers chaired the first meeting of the Joint Planning Group.
However, after Erdoğan’s phone call with the interim prime minister of Libya, to whom he conveyed the determination to protect the “rights and interests” of the two countries in the Eastern Mediterranean, the Turkish Deputy Energy Minister A. Bayraktar was in Tripoli on Monday. There he had meetings with both Prime Minister Dbeiba and the leadership of the state oil company NOC.
According to the announcement of the Libyan government, at the meeting, which focused on evaluating the prospects of cooperation between Turkey and Libya in various energy sectors, issues related to research, drilling, energy infrastructure and the exchange of technical expertise were discussed. In accordance with the announcement, Prime Minister Dbeiba emphasized the importance of utilizing the joint potential of the two countries in energy projects to strengthen the national economy and create sustainable investment opportunities.
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