Yesterday’s meeting was far from typical Greece-Cyprus Intergovernmental Summit in the Maximos Palace, as the Kyriakos Mitsotakis and the Nikos Christodoulidis on the one hand, they reaffirmed their political commitment to its implementation GSI (of cable Greece-Cyprus-Israel), but at the same time they also decided to modify the economic and technical parameters of the project, in order to shield it against the so-called “geopolitical risks”. In general, Turkey, which threatens with Kasou scenes, if the project gets back on track.
Mr. Mitsotakis and Mr. Christodoulidis had also agreed in September, on the sidelines of the UN General Assembly, regarding the need for the project to “run”. But then he came the fierce conflict of ADMIE with the Cypriot president and the Energy Regulatory Authority of Cyprus and delicate manipulations were required in order not to “blow up” the important project.
It is no coincidence that in yesterday’s large Cypriot delegation, with 10 ministers and deputy ministers and 6 associates of the Presidency, the Minister of Finance did not participate Makis Keravnoswho is an opponent of the project, citing sustainability studies, which he has not made public.
The critical parameter in this case is the modification of the economic and technical parameters of the project, so that some American or and Israeli company. According to information, contacts were also made in the previous days on the sidelines of the PTEC conference in Athens, where it was convened again the 3+1 scheme at the level of energy ministers, with the participation of the American minister Chris Wright.
According to information, the U.S. International Development Finance Corporation (DFC) weighs his possible participation in the project. It is recalled that the French company Meridien has also shown interest a year ago. The development was also photographed by Mr. Mitsotakis, who said that “this could potentially be strengthened with the entry of new powerful investors, which will obviously be to the benefit of all of us”.
With the President @Christodulides we decided to proceed with the immediate updating of the economic and technical parameters of the electric interconnection cable project between our two countries, so that it can be strengthened with the entry of new powerful investors. pic.twitter.com/VDZbPYhQAE
— Prime Minister GR (@PrimeministerGR) November 12, 2025
For the interventions in the project, it is assumed that he will also be involved international consulting company which will be called upon to re-evaluate the project, so that they can then “clip” investors who will shield it geopolitically as well.
Brussels, which is co-financing the project, was also informed yesterday about the developments by the Minister of Energy Stavros Papastavrou with its Cypriot counterpart George Papanastasiouwho had been in Athens a week ago. In fact, Mr. Papastavrou showed that things will move quickly, citing as a priority “the finding of this house that will do the specific study, so that we can put this techno-economics in the new environment, which is the finding of strong players and funds that will be able to financially support the project”.