The decision was announced by Greek Prime Minister Kyriakos Mitsotakis and Cypriot President Nikos Christodoulides during the Third Intergovernmental Summit between the two countries, held in Athens on Wednesday.
The announcement marks a renewed push for a project that has experienced significant setbacks despite its strategic importance and substantial European backing. The European Commission has already committed €657 million in funding and continues to monitor the project closely. Speaking at a joint press conference, Mitsotakis emphasized that updating the project’s framework will strengthen its viability and help bring in strategic investors, describing the effort as “a step that serves the interests of us all.”
The Greek Prime Minister also highlighted the importance of the “3+1” cooperation framework — involving Greece, Cyprus, Israel, and the United States — noting that it plays a key role in enhancing stability in the Eastern Mediterranean and underscores the strategic importance of both Greece and Cyprus in Europe’s broader energy security.
At the same time, in Brussels, Greek Energy Minister Stavros Papastavrou and his Cypriot counterpart Giorgos Papanastasiou met with EU Energy Commissioner Dan Jørgensen on Wednesday, who reaffirmed the European Commission’s strong support for the project, known as the GSI.
Following the meeting, Papastavrou said that updating the project’s economic and technical data is essential for attracting new investment and accelerating implementation. He underlined that the interconnection is a vital project for Europe’s energy connectivity and for reducing energy costs across the region.
