**Cyprus’ Role in International Energy Developments Strengthened, Says Minister**
Cyprus has seen a significant enhancement in its role within regional and international energy developments in recent years, according to Energy Minister Michael Damianos. His remarks followed his participation in the Atlantic Council global energy forum held in Washington, DC, where he emphasized the strategic importance of the eastern Mediterranean in the energy sector.
During an interview with the Cyprus News Agency, Damianos noted that the forum underscored Cyprus' growing influence in energy discussions, particularly in the context of the eastern Mediterranean's potential to diversify energy sources and routes. He highlighted the region's "significant prospects" as a contributor to global energy security.
A key component of this strengthened role is the "3+1" diplomatic format, which includes Cyprus, Greece, Israel, and the United States. Damianos remarked that this framework fosters collaboration and facilitates joint initiatives that yield tangible results. He is scheduled to attend a ministerial meeting in Houston, Texas, alongside his counterparts from Greece, Israel, and the U.S. on Thursday, where they aim to deepen cooperation and outline specific next steps for energy collaboration.
One of the pivotal initiatives discussed is the establishment of an "Eastern Mediterranean energy centre." Damianos described this centre as a crucial entity that will provide substantial technocratic support for various energy projects and infrastructure-related issues in the region.
In a related development, earlier this year, Cyprus and Greece submitted a joint letter to the European Central Bank, seeking a new due diligence study to advance the Great Sea Interconnector project. This ambitious initiative aims to link the energy grids of Cyprus, Greece, and Israel. If the study confirms the project's viability, funding may be secured from the Luxembourg-based bank.
Damianos has previously emphasized the project's importance from a security of supply perspective, labeling its completion as essential. He indicated that Cyprus is expected to bear 63 percent of the project's total costs, which could amount to approximately €800 million if the project is estimated at €1.9 billion. This financial responsibility will ultimately impact consumers' bills in Cyprus.
Despite the project's slow progress, there have been some encouraging developments. In March, French cable construction company Nexans announced the successful completion of an undersea trial for the type of cable intended for the interconnector. However, the company has also acknowledged that the delivery schedule for these cables is currently under renegotiation, which may delay the project's completion into the next decade.
European Energy Commissioner Dan Jorgensen reaffirmed the European Union's commitment to supporting the Great Sea Interconnector project. He stated that the EU is dedicated to defending the interests of its member states and upholding regional stability. The interconnector has been designated as a project of common interest, which includes a grant of €657 million to facilitate its development.
As Cyprus continues to navigate its role in the evolving energy landscape, the government's efforts to strengthen partnerships and secure funding for critical infrastructure projects remain a priority. The upcoming meetings and initiatives signal a proactive approach to enhancing the island's energy security and regional cooperation.