NICOSIA - Cypriot President Nicos Christodoulides and Greek Energy Minister Theodoros Skylakakis speak during a meeting to discuss the conditions for the construction of an undersea cable.
According to a source close to the matter, Cyprus will support a multi-billion-euro electricity transmission cable that will link Europe's energy grids with the Middle East.
The so-called Great Sea Interconnector (GSI) is a $2.7 billion project to link transmission networks from Greece through Crete, Cyprus and finally Israel. In the first phase, which will reach Cyprus, the cable will cost an estimated $2.1 billion.
The government decided to support the project at Tuesday's cabinet meeting, explained the source, who spoke on condition of anonymity. The amount of the Cypriot participation was not clear and will be decided later, the source said.
When completed, it will be the longest (1,240 km) and deepest (3,000 m) high-voltage direct current (HVDC) interconnection in the world. The European Union has indicated that it is willing to finance part of it, which is currently expected to be completed around 2030.
CMG CGTN / photo: / gnews.cz-roz_07
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