Nicosia: Finance Minister Makis Keravnos expressed alignment with the Government's stance on the Cyprus-Greece electricity interconnection project, GSI. This comes after statements made by the President of the Republic, Nikos Christodoulides, underscoring the strategic importance of the interconnection.
According to Cyprus News Agency, President Christodoulides reiterated the Government's support for the GSI project, emphasizing the necessity of updating certain economic and technical aspects. Following his meeting with the Governor of the Central Bank of Cyprus, Keravnos addressed concerns raised by DIKO President Nikolas Papadopoulos regarding alleged double talk by the Government on the project. Keravnos clarified that both Greece and Cyprus agree on the need for updated studies due to changing geopolitical conditions and developments since the Energy Committee last approved the project budget a decade ago.
When questioned about the European Commission's opinion that a new study is not required, Keravnos refrained from commenting on external positions, focusing instead on the Government's established stance. He also confirmed that the £25 million required for the project is included in the budget and will be disbursed once conditions are met.
Keravnos emphasized that feasibility studies are standard for such projects and highlighted the importance of revisiting the GSI project's details due to evolving circumstances. The Minister reiterated that both Greek and Cypriot officials are committed to reassessing the project's viability to ensure it aligns with current geopolitical realities.