Cyprus President Nikos Christodoulides supported his finance minister’s comments and emphasized that Cyprus’s position is unified, and that ADMIE must first fulfill its obligations in order for the project to move forward.
The cable would help Cyprus overcome its energy isolation, but the Greek outlet Oikonomikos Tachydromos (Economic Courier) suggests that obstacles may also stem from domestic electricity producers in Cyprus. Currently, the island’s energy needs are met mostly by diesel generators, and renewable energy accounts for only about 25% of the mix. As a result, Cypriot consumers pay some of the highest electricity prices in the EU.
Commission officials expressed frustration at conflicting statements from Cyprus regarding GSI’s viability.
EPPO confirmed it is investigating potential criminal offenses connected to the €1.9 billion EU-funded project but declined to disclose details to protect the outcome.