Economy category powered by

Geopolitical aspects of GSI are being managed, Energy Minister says

Τhe geopolitical dimension of the Great Sea Interconnector (GSI) electricity project is being handled, Minister of Energy, Commerce and Industry, George Papanastasiou has said.

He made statements to the press following a session of the House's Standing Committee on Energy, Trade, Industry and Tourism on 24 June.

The Minister reiterated that the project faces several challenges, including ones that were economic, technical, and geopolitical.

Asked by a journalist about the status of the GSI, Papanastasiou replied that, “If we assume that the technical and economic issues can be resolved, the geopolitical one is being managed, so let’s leave it at that.”

The Great Sea Interconnector, formerly known as the EuroAsia Interconnector, a major cross-border infrastructure project, aims to link the electricity grids of Cyprus and Greece via an undersea high-voltage direct current (HVDC) cable. The original plan also included a connection with Israel, forming a strategic energy corridor between the Eastern Mediterranean and the European Union.

(Source: CNA)

Read More

India's Ambassador discusses opportunities of mutual interest with Cyprus Shipping Chamber
LCCI Barometer: Limassol’s business community says economy now in better state than six months ago
Michael Kyriakides: If implemented correctly, the new FDI screening system will be a positive development for Cyprus
Cyprus calls for flexible EU support measures for farmers after 3-year severe drought
Cyprus backs Commission strategy for EU–US trade agreement
Energy Minister: It will take time before Pegasus' natural gas reaches market
George Papanastasiou: EU Green Deal involves significant costs that could affect member states' competitiveness
Agriculture Minister to participate in EU Agriculture and Fisheries Council
Average total government employment up in first six months
Makis Kervanos: Sanctions Unit will strengthen financial system protection