Lagonisi: The great importance of the Great Sea Interconnector (GSI) project was noted by Minister of Energy, Commerce and Industry, George Papanastasiou, during his speech at the Economist Conference, held in Lagonisi, Attica. Papanastasiou highlighted the project’s significance for energy security in Cyprus and the broader region, as well as its role in advancing the green transition.
According to Cyprus News Agency, Papanastasiou emphasized that the recent energy crisis caused by disruptions in natural gas flow throughout Europe underscored the need for energy independence and stability. He noted that the European Union’s push for a green transition came at a time when the supporting technology was not yet fully mature. “We have to take seriously the cost of energy for citizens and the competitiveness of the economy. Green energy must support competitiveness,” he stated.
The Cypriot Minister explained the necessity of transferring and storing energy from production regions such as the Mediterranean, Aegean, North Africa, and the Middle East to consumption regions. He highlighted Cyprus’s upgraded geopolitical role as an energy hub in the Eastern Mediterranean, facilitated by the development of Renewable Energy Sources and strategic interconnections like the GSI and GREGY (Greece – Egypt).
Looking ahead to Cyprus’s assumption of the EU Presidency on January 1, 2026, Papanastasiou expressed the need for a re-evaluation of the European Green Deal. He suggested that it should primarily focus on strengthening the competitiveness of the European economy, with the fight against climate change as a secondary objective.
Papanastasiou participated in a panel at the ’29th Round Table Discussion with the Greek Government’, which included notable figures such as Greece’s Minister of Environment and Energy, Stavros Papastavrou, Hellenic Energy CEO Andreas Siamisis, and Geoffrey Pyatt, former US Ambassador to Greece and Ukraine, among others.