Interconnector decision delayed another day

Cabinet’s final decision over whether Cyprus will participate in the Great Sea Interconnector project was delayed for another day on Wednesday, with an extraordinary cabinet meeting now scheduled for Thursday.

A decision had been expected on Wednesday, with meetings on the matter between President Nikos Christodoulides, attorney-general George Savvides, Finance Minister Makis Keravnos and Energy Minister George Papanastasiou taking place throughout the day.

However, the government stopped short of reaching a final decision on the matter in the end, with newspaper Phileleftheros reporting that “serious concerns” had been raised over whether the government is legally required to secure parliament’s approval before committing to the project.

Cyprus is required to buy into the project, with a nine-figure fee currently reported. Phileleftheros on Thursday said this buy-in would entail the payment of €125m to Greece’s independent transmission system operator Admie between 2025 and 2029.