Nicosia's intention to proceed with new electrical interconnections with neighbouring states, strengthening Cyprus' regional role on the energy map, has been highlighted by President Nikos Christodoulides.
During his speech at a symposium held in Nicosia on 19 November, the President stressed that Cyprus' participation in the "3+1" mechanism with Greece and the US confirms the country's strategic aspiration to be part of energy solutions in the Eastern Mediterranean, with the aim of strengthening energy security and aligning its interests with those of powerful states.
As he noted, Cyprus is seeking to function as an alternative energy corridor to Europe.
President Christodoulides also referred to the estimates for 2027 regarding the export of the first natural gas from Cypriot deposits through the Cronos-Damietta infrastructure, emphasising that such a development would constitute a significant milestone and would effectively integrate Cyprus into the EU energy map.
A central point of his statement was the electrical interconnection with Greece. The President stated that the cooperation between the two countries is a solid strategic choice and that, in full consultation with the Greek Prime Minister, the decision was recently taken to update the financial and technical parameters of the project.
This is critical infrastructure that will connect Cyprus with Europe in terms of energy and strengthen long-term security of supply.
"Our position is clear in relation to energy interconnection, while at the same time we are discussing such electrical interconnections with other neighboring states," the President said.
Interest from energy giants and energy contacts in Lebanon
At the same time, the President mentioned that there is interest from energy giants in operating in additional plots of land in the Cypriot EEZ,
"It's something we're discussing, and I think we'll make decisions soon," he said.
He also announced that on 26 November, he will travel to Lebanon for contacts dedicated exclusively to energy plans.
"We are now entering the stage of real exploitation which, among other things, strengthens the international image of our country, attracts investments, strengthens regional cooperation and more," he said.
He added that the great energy challenge that must be exploited is to connect energy planning, developments in the Eastern Mediterranean with the broader planning of Europe, something that concerns the European Union.
As he said, even so many years after the war in Ukraine, Europe has not become completely energy independent from third countries, so there is a prospect that the Eastern Mediterranean could also function as an alternative energy corridor for Europe.
"In an era where energy determines alliances, collaborations, balances and strategic choices, our country, taking advantage of the characteristics I mentioned above, is attempting in practice and not in words to be with those who offer solutions and not with those who create problems," he said.
Referring to the Cypriot deposits, he pointed out that the recent discovery of Pegasus in block 10 brings the total estimated quantities to approximately 20 trillion cubic feet.
He recalled that the procedures for the Aphrodite and Cronos fields are in full swing, with the aim of a final investment decision in 2026. According to the companies' estimates, the first export of Cypriot natural gas from Cronos, via Damietta, is set for 2027, which, as he said, will constitute a "significant energy development" that will essentially integrate Cyprus into the energy map of Europe.
The President also referred in detail to the green transition, noting that the Government seeks to increase the penetration of renewable energy sources, but at the same time ensures that vulnerable households and vulnerable categories of citizens will not be left behind.
He emphasized that significant projects to upgrade transmission and distribution networks amounting to 114 million euros are being promoted, while plans are underway for energy storage and the development of energy communities, with Tillyria being the first pilot example.
"From 2026, the experience of this specific pilot project that we did and are implementing in Tillyria will be transformed into policy for the entire country," he said.
Despite the fact that the RES penetration rate has increased in Cyprus, reaching 23%, he said that "I am not at all satisfied" for a country with such a high sunshine index and expressed the Government's determination to accelerate the path towards a greener, competitive energy system.
The President of the Republic emphasized that the energy transition requires consistency, requires cooperation, and requires a plan.
He acknowledged that there are difficulties and that there is much that should have been done years ago, noting, however, that the Government is determined to proceed with realism, with responsibility, step by step, guided by the interests of the country, citizens and businesses.
He recalled that the Government's strategy is based on three pillars and pointed out that with a clear plan and planning, with collaborations and alliances with Cyprus' partners, the country is moving forward with the sole goal of ensuring electricity sufficiency and reducing electricity costs. As he said, this is "a big bet that we are working to win."
(Source: CNA)
