Nicosia: The intention of Cyprus to advance new electrical interconnections with neighboring countries was emphasized by President Nikos Christodoulides during his address at the 13th Energy Symposium. This initiative is aimed at enhancing Cyprus’ regional significance within the energy landscape, as mentioned in his speech on Wednesday.
According to Cyprus News Agency, the President highlighted Cyprus’ involvement in the “3+1” mechanism with Greece and the US, showcasing the country’s strategic goal of integrating into the Eastern Mediterranean’s energy solutions. This is to bolster energy security and align Cyprus’ interests with influential nations, with the aim of becoming an alternative energy corridor for Europe.
President Christodoulides further pointed out projections for 2027, which foresee the export of the first natural gas from Cypriot deposits via the Kronos-Damietta infrastructure. This development would mark a substantial milestone, effectively placing Cyprus on the EU’s energy map.
A key focus of his statement was the electrical interconnection with Greece. The President noted that collaboration between the two countries remains a strategic priority, and a decision was recently made to update the project’s economic and technical parameters after consultations with the Greek Prime Minister. This infrastructure is vital for connecting Cyprus to Europe in energy terms and enhancing long-term supply security.
“Our position is clear regarding energy interconnection, while concurrently discussing similar electrical interconnections with other neighboring countries,” the President stated.
At the same time, the President mentioned interest from energy giants in operating within additional blocks of the Cypriot Exclusive Economic Zone (EEZ). “It is something we are discussing, and I believe we will make decisions soon,” he said.
He also announced an upcoming visit to Lebanon on November 26 for meetings focused on energy plans. “We are now entering the stage of actual exploitation, which, among other things, enhances our country’s international image, attracts investment, strengthens regional cooperation, and more,” he expressed.
The President acknowledged the significant energy challenge of linking Eastern Mediterranean energy plans with Europe’s broader strategies, a concern for the European Union. Despite years passing since the war in Ukraine, Europe remains dependent on external energy sources, suggesting that the Eastern Mediterranean could serve as an alternative energy pathway.
“In an era where energy determines alliances, partnerships, balances, and strategic choices, our country aims to be part of the solution rather than the problem,” he stated.
Referring to Cypriot reserves, he highlighted the recent Pegasus discovery in block 10, bringing total estimated quantities to around 20 trillion cubic feet. He noted that procedures for the Aphrodite and Kronos deposits are progressing, with a final investment decision anticipated in 2026. According to company estimates, the first Cypriot natural gas export from Kronos, via Damietta, is set for 2027, marking a “significant energy development.”
The President also elaborated on the green transition, emphasizing the Government’s commitment to increasing renewable energy sources while ensuring vulnerable households and groups are not overlooked. He mentioned significant projects to upgrade transmission and distribution networks worth £114 million and plans for energy storage and community development, with Tillyria as the pilot example.
“From 2026, the experience of this pilot project in Tillyria will become policy for the entire country,” he stated.
Despite Cyprus’ increased RES penetration rate to 23%, the President expressed dissatisfaction for a country with such a high sunshine index and reiterated the Government’s resolve to expedite the transition to a greener, more competitive energy system.
The President stressed that the energy transition requires consistency, cooperation, and planning. He acknowledged existing challenges and past shortcomings but emphasized the government’s determination to proceed realistically and responsibly, keeping the interests of the country, its citizens, and businesses in focus.
He reiterated that the government’s strategy is built on three pillars, highlighting that with a clear plan and design, in cooperation and alliance with Cyprus’ partners, the country is advancing with the sole aim of ensuring electricity sufficiency and reducing electricity costs. “This is a big bet that we are working to win,” he concluded.