Christodoulides, Mitsotakis, Macron agree to push cable project forward with navtex, French survey ships

Economy energyGreat Sea InterconnectorTop News Christodoulides, Mitsotakis, Macron agree to push cable project forward with navtex, French survey ships Macron Nikos Kyriakos Chrysanthos Manoli 18/08/2026 FacebookXWhatsAppEmailPrintViber President Nikos Christodoulides, Greek Prime Minister Kyriakos Mitsotakis and French President Emmanuel Macron have agreed on the next steps needed to relaunch the Cyprus-Greece electricity interconnector, holding phone talks in the days following the August 5 signing ceremony at the Maximos Mansion, according to philenews information. The talks followed the signing of two agreements that day between ADMIE, GSI (Great Sea Interconnector), Meridiam and Nexans, and the political discussions intensified rather than stalled in the days afterwards, philenews sources said. According to philenews information, the talks focused on speeding up the next decisive steps to be taken by GSI, under its new shareholder structure and under the leadership of French company Meridiam, and by French firm Nexans, which holds the contract for building and laying the cable, currently valued at €1.4 billion. Philenews information indicates fairly strongly that all three leaders agree the project cannot truly restart until maritime surveys resume, carried out by a specialised company, to complete bathymetric mapping and choose the final route for the cable connecting Kofinou to Korakia, and by extension linking Cyprus’s electricity grid to the European grid. The three leaders also believe it is urgent for Meridiam, as majority shareholder in GSI, and Nexans to complete all technical preparations, so that Greek authorities can issue a navtex as soon as possible to allow surveys to resume in the sea area between Crete and Cyprus, philenews reports. What’s left for the surveys Macron, Mitsotakis and Christodoulides have discussed and agreed, in talks over the past few days, that the navtex and the resumption of bathymetric surveys should follow once Meridiam and Nexans make the key operational decisions on their next steps, according to philenews information. That means deciding which companies or consortium will complete the surveys and on what timetable. According to ADMIE, the sole shareholder in GSI until August 5, 60% of the bathymetric surveys have been completed so far. The remaining part is the most difficult and politically sensitive, philenews reports, since Turkey claims the sea area south of Kasos falls within its continental shelf, based on its memorandum with the regime in Libya. The companies involved have not yet announced the start of new surveys, which companies will carry them out, or which vessel or vessels will be used. Shift to French companies Philenews information suggests it is fairly likely that Nexans will not continue its cooperation with Italian firm NextGeo, which mainly used the vessel IEVOLI Relume, and that a French company or consortium will take its place. Meridiam, now the majority shareholder in GSI, is also building the United Kingdom-Germany interconnector NeuConnect, using other partners for its maritime surveys and bathymetric work. If the assessment proves correct that the August 5 agreements will lead to a revision of the contracts for maritime survey work, philenews reports that a fully French consortium could emerge across all parts of the project: ownership of the interconnector through Meridiam, for as long as it holds 66% of GSI, cable construction and laying through Nexans, and a French company or consortium for the final bathymetric surveys that will determine the cable’s route and the project’s final cost. ADMIE retains technical leadership of the project and responsibility for its operation after electrification, though its role in the remainder of construction has not been clearly defined, according to philenews. Some sources see a clear geopolitical dimension in the prospect that all the key aspects of the project could be advanced by French companies, with apparent political backing from the French government, philenews reports. That would mean that when Greek authorities issue the navtex in the coming period to reserve the sea area for the surveys, it would be clear that the navtex serves French economic and geopolitical interests, in line with international maritime law, and not solely the interests of the Greek state company. ‘My President calls me daily about it’ At the signing of the agreements at the Maximos Mansion, Meridiam president and CEO Thierry Déau said the electricity interconnector was a project of major strategic significance for Europe, in the context of the strategic partnership Greece has signed with France. Déau added: “My president strongly supports this project and calls me daily about it,” referring to Macron. Philenews reports that all parties involved, including those that unilaterally sought a role in the project, are now clearly aware that the European Greece-Cyprus-Israel electricity interconnector project is no longer backed only by the countries involved, their governments and the European Union, which is funding it with €658 million, but also by the French state. That was confirmed, philenews understands, in the talks held over the past 24 hours between Christodoulides, Mitsotakis and Macron. Cyprus-Israel link Philenews links the recent flurry of developments to a letter sent by ADMIE last week, in which the company, currently named as the implementing body for the Greece-Cyprus-Israel interconnector in regulatory decisions, requested that investment in the Cyprus-Israel section also move forward. ADMIE submitted the documents needed for the Cypriot and Israeli regulators, CERA and the Israel Electricity Authority (PUA), to make key decisions on the Cross-Border Cost Allocation (CBCA) for that section, based on the existing Cost-Benefit Analysis (CBA). Finalising the project will require the Cypriot and Israeli regulators to assess the documents and studies submitted by ADMIE, along with consultation with the implementing body, currently ADMIE and subsequently GSI under Meridiam as majority shareholder, on the final CBCA and other technical and economic aspects. Based on current data, the Cyprus-Israel section, part of the wider interconnector with Crete, will run approximately 324 kilometres at a water depth of 2,200 to 2,400 metres, with a capacity of 1,000 MW of bidirectional power transfer. The converter station will be located at Kofinou in Cyprus and at Hadera in Israel. Philenews reports that Meridiam, and by extension the French state, has an equal interest in the rapid completion of the assessment for the Cyprus-Israel cable and in advancing its construction, for clear geopolitical as well as economic reasons. The Israeli government has also expressed support for the interconnector on various occasions, citing the energy security it would offer. The issue has been the subject of numerous high-level consultations between the Cypriot and Israeli governments, and philenews information indicates that a new official high-level consultation on the matter is expected in September. Lebanon interconnector For the Cypriot side, and probably for the French side as well, the electricity interconnector between Cyprus and Lebanon is also considered a matter of major importance. A study and funding from the World Bank have already been requested. The issue is discussed frequently between the two governments, particularly between President Christodoulides and Lebanese President Joseph Aoun. Philenews information indicates that the United Arab Emirates has shown strong interest in taking on the surveys and construction work through state companies. Subscribe to our Newsletter Follow en.philenews on Google News and be the first to know all the news about Cyprus and the world. Latest News A wetter year rescued Cyprus’s dams, but key reserves could still run dry Modern offices pull ahead in Nicosia as older buildings face obsolescence ‘Every generation has to live and deal with what came before.’ : Cypriot author on shared guilt Cypriots keep hospitality venues busy as tourist visits drop by up to 20% Rain, thunderstorms and possible hail forecast on Tuesday Heavy rain floods roads in Nicosia and Larnaca From my notebook: I know I will never walk through that door again