Greek energy minister says GSI subsea cable will proceed only if viability concerns are resolved

A subsea electrical cablegram planned to nexus continental Europe to the East Mediterranean will lone proceed if concerns implicit its viability are addressed, Greek Energy Minister Stavros Papastavrou said connected Monday.

Speaking connected Open TV, Papastavrou said the long-delayed GSI project, designed to link the electrical grids of Greece, Cyprus, and perchance Israel, “is stuck successful a changeless questioning of the viability of this project” by the Cypriot side. He stressed that Greece “does not prosecute successful blackmail, it speaks lone done organization channels” and added that “relations betwixt Greece and Cyprus are not disrupted by projects.”

“To determination the task forward, the concerns implicit its viability indispensable beryllium addressed,” helium said.

His remarks came aft a study successful Cypriot paper Phileleftheros renewed tensions betwixt Athens and Nicosia implicit the task connected Sunday.

According to the report, ADMIE, Greece’s Independent Power Transmission Operator, filed an objection with RAEK, the Cyprus Energy Regulatory Authority, challenging its determination to o.k. the betterment of €82 million, with the close to cod €25 cardinal for January-December 2025.

ADMIE, the project’s promoter, reportedly seeks designation to retrieve €251 cardinal successful expenses incurred so far, earlier the project’s completion.

The study drew a crisp effect from Cypriot President Nikos Christodoulides, who said: “If the caput of ADMIE thinks that the Cypriot authorities tin beryllium blackmailed with letters oregon paid announcements, helium evidently does not cognize who helium is dealing with.”

ADMIE issued a statement denying the Phileleftheros report, saying it is seeking lone “the agreed archetypal installment of €25 cardinal for 2025, and thing much concerning the project’s concern expenses.”

The Greek relation besides rejected what it called “arbitrary and unverified claims” astir an contiguous request for €251 million, clarifying that the magnitude is portion of the project’s total fund of €1.9 cardinal and will beryllium recovered implicit a 35-year amortization period, successful enactment with regulatory provisions.