US supports landmark Israel-Cyprus-Greece electricity project

The $2 billion underwater “energy highway,” which would be the world’s longest and deepest underwater power cable.

By Etgar Lefkovits, JNS

The U.S. administration is backing a mammoth electricity project to connect the power grids of Israel, Cyprus and Greece, the Cypriot Defense Minister said on Wednesday, reviving the long-delayed initiative.

The move comes amid growing cooperation between the close eastern Mediterranean allies, who have united against their historic rival, Turkey, after a period of regional instability.

Cypriot Defense Minister Vasilis Palmas told JNS at the launch of an Israel caucus in the Cypriot parliament that U.S. Secretary of State Marco Rubio expressed support for the project during his visit to Greece last week, underscoring Washington’s commitment to its implementation and highlighting the cooperation of the three eastern Mediterranean allies plus the United States.

The watershed Israel-Cyprus-Greece electricity project, known as the Great Sea Interconnector, is of “considerable strategic importance” for both the Republic of Cyprus and the wider eastern Mediterranean region, the Cypriot defense minister said.

“This project has the potential to help end Cyprus’s energy isolation, strengthen energy security, and integrate our region into the European security market,” he said.

Cyprus is the only E.U. country not connected to the grid of any other member state, and building an interconnector cable would end its energy isolation and make the island much more secure.

The $2 billion underwater “energy highway,” which would be the world’s longest and deepest underwater power cable, had been stalled by a dispute between Greece and Turkey over the maritime area to be designated for the laying of the cables.

The Cypriot defense chief noted that while the project has faced “difficulties and delays,” recent developments have offered “encouraging prospects” for moving it forward, citing U.S. support and French financial backing.

The project got a boost this summer when the French investment group Meridiam signed an agreement to become the project’s majority shareholder.

“Ultimately, Cyprus remains committed to implementing a project that strengthens energy cooperation in the Eastern Mediterranean based on internal law and the respect for the sovereign rights of states,” Palmas said.

“Vocal U.S. support for the electricity connection project is vital to overcome political obstacles, mainly from Turkey, that are delaying the project,” said Elai Rettig, an assistant professor at Israel’s Bar-Ilan University.

“In the end we need to see both a cost-benefit analysis and security guarantees regarding Turkey, and then the project will be implemented,” said University of Nicosia professor Andreas Theophanous.

“I see the light at the end of the tunnel,” U.S. Ambassador to Cyprus John Breslow told JNS. “They are making progress.”