Energy minister warns of electricity shortages by 2030 without natural gas

Cyprus Minister of Energy Michael Damianos informed the parliamentary energy committee that the country faces a significant risk of electricity shortages by 2030 if natural gas infrastructure is not established. The minister confirmed that the government considers completing the Vasiliko terminal the only viable solution, as alternative options would require lengthy public procurement processes. According to a technical assessment by Technip received in late 2025, the facility is partially complete, and tender documents are expected to be finalized by July. Furthermore, outdated EAC generators in Dhekelia must be phased out by the end of 2029 under EU commitments. To mitigate risks, the EAC has contracted three new generators scheduled for delivery between 2028 and 2029, though their capacity will be lower than the existing units. The government aims to launch a new tender in 2026 to complete the project before 2030. Additionally, the committee discussed the Great Sea Interconnector (GSI), noting ongoing technical concerns regarding project financing and the potential costs for consumers.