"The GSI project, which is worth 2 billion ($2.36 billion), seeks to build a subsea electric cable connecting Greece and Cyprus and later Israel. The aim is to integrate the Republic of Cyprus into the European electricity transmission system and bolster the energy security of EU member states Greece and Cyprus. But although the project was launched in October 2022 with the aim of completing it by the end of 2023, it is currently not clear whether it will ever actually come to fruition."
"At a depth of over 2 kilometers, it was to be one of the deepest and longest submarine power cables anywhere in the world. In addition to integrating Cyprus into the European electricity transmission system, the project sought to link energy markets in the EU and Asia. The EU has pledged to provide some 650 million of the 2 billion required for the project."
"Project faces multiple challenges There are several reasons for the current uncertainty. Not only is the GSI an expensive project, it is also technically difficult and faces massive geopolitical challenges. What's more, the European Public Prosecutor's Office has launched an investigation into possible criminal offences relating to the project. The current situation is in stark contrast to the launch of the project in October 2022 when everything seemed so promising."
The Great Sea Interconnector (GSI) aims to lay a 1,208-kilometer subsea electric cable linking Greece and Cyprus and later Israel to integrate Cyprus into the European electricity transmission system and connect EU and Asian energy markets. The project was valued at 2 billion ($2.36 billion) with the EU pledging about 650 million. The planned route reaches depths over 2 kilometers, making it one of the deepest and longest submarine power cables. The project faces high costs, significant technical challenges, and massive geopolitical obstacles. The European Public Prosecutor's Office has opened an investigation into possible criminal offences. Completion remains uncertain despite an initial launch in October 2022.
Read at www.dw.com
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