Cyprus energy minister confirms status of Great Sea Interconnector project

Cyprus Minister of Energy, Commerce and Industry, Michalis Damianou, confirmed on September 6, 2026, that the Great Sea Interconnector (GSI) project is proceeding as planned. The infrastructure is set to include two main segments: the Cyprus-Crete electrical link and the subsequent Cyprus-Israel connection. Addressing speculation, the Minister explicitly denied reports suggesting the project could bypass Cyprus, emphasizing that the Republic of Cyprus remains fully committed to its participation.

The project's financial framework is currently under review, with the European Investment Bank (EIB) conducting a due diligence study to determine the final costs and optimal funding methods. The European Union has already committed 358 million euros to the project. Minister Damianou noted that if costs exceed current estimates, the government will seek additional private investors to avoid placing the financial burden on domestic electricity consumers. The project's future steps remain contingent on the EIB's upcoming findings regarding total expenditure and viability, with potential interest already noted from international investors for the Israel-Cyprus leg.