Greece and Cyprus advance plans for Great Sea Interconnector

Greece is expected to issue a navigational telex (NAVTEX) by the end of October 2026, specifically targeting October 26, to commence seabed surveys for the Cyprus-Greece electric interconnection project. This decision follows discussions between the Greek government, represented by Energy Minister Stavros Papastavrou, and the Cypriot Minister of Energy, George Papanastasiou. The move signals a transition toward the implementation phase of the submarine cable project.

The initiative involves French companies tasked with conducting marine surveys. While the project is moving forward, it remains subject to an ongoing assessment by the European Investment Bank (EIB). The EIB is currently reviewing a request from the Independent Power Transmission Operator (IPTO/ADMIE) for a one-billion-euro loan to support the infrastructure. Cypriot officials are preparing for the initial disbursement of 25 million euros to IPTO, with subsequent payments scheduled for the coming months.

The project’s progress is attributed to diplomatic efforts, including consultations involving U.S. Secretary of State Marco Rubio, which have provided the necessary confidence to proceed. Officials are evaluating whether this progress stems from U.S. guarantees against potential regional interference or an assessment that neighboring Turkey will remain passive, following the lack of significant escalation during previous maritime research events near Kasos.