Regional energy cooperation and infrastructure projects discussed in Athens

Cyprus Minister of Energy, Commerce, and Industry, Michalis Damianos, visited Athens on October 7, 2026, to participate in an East Mediterranean Gas Forum (EMGF) conference co-organized by HELLENiQ ENERGY. The summit focused on accelerating the Eastern Mediterranean energy corridor, aiming to transition from dialogue to the practical realization of regional energy infrastructure.

During the event, Damianos held bilateral meetings with his Greek counterpart, Stavros Papastavrou, and Egyptian Minister of Petroleum and Mineral Resources, Karim Badawi, followed by a trilateral discussion. The officials reached a strategic agreement to channel natural gas from the Cypriot 'Cronos' field through Egyptian liquefaction facilities and then into the Greek and European 'Vertical Corridor.' The project aims to commence gas production by early 2028. Additionally, the discussions addressed the Great Sea Interconnector (GSI) electricity cable project, with reports confirming that Greece will issue a new NAVTEX this October to resume seabed surveys. This action is expected to trigger a €25 million payment from the Republic of Cyprus to the project operator, as the initiative moves forward without requiring Turkish authorization.

Looking ahead, stakeholders are awaiting the financial and technical assessment by the European Investment Bank. Furthermore, exploratory drilling in the Ionian Sea’s 'Block 2' is scheduled for April 2027, with results expected by mid-2027 to assess potential energy independence for Greece.