Parties split over support for Interconnector

Edek on Wednesday called on the government to convene a meeting with political parties over the Great Sea Interconnector asdiscussions continue with stakeholders about the future of the project.

The aim of such a meeting, it said, would be to “form a national policy on the matter”.

With this in mind, it set out its stall on the issue, saying Cyprus should instead “focus on the arrival of natural gas”, with the aim of “creating sufficient conditions for electricity production within the local market” and to save the €300 million the country currently pays annually into the European Union’s emissions trading system (ETS) due to its current greenhouse gas emissions.

This money, they said, could instead be used to “subsidise electricity for the benefit of consumers”.

This idea is at least slightly optimistic, given that, as energy expert Charles Ellinas said last week, €300m is the typical absolute upper limit of Cypriot payments into the ETS, and the EU then returns around 90 per cent of this to Cyprus.

On the matter of the interconnector itself, Edek said it was “problematic” that the Greek government is “insisting that it be implemented … without any step being taken between Greece and Cyprus to delimit the two countries’ exclusive economic zones (EEZ).”

Edek’s position is opposed by Disy, with party leader Annita Demetriou on Wednesday reaffirming her party’s commitment to the project.

“It is a project of outstanding geostrategic importance to end Cyprus’ energy solution and to give people cheaper electricity,” she said.

She also pointed out that Cyprus still spends around €2.5 billion per year to import fuel oil, and that instead, that cost could be paid to construct, operate and maintain the interconnector.

“Greece is our strongest ally. The cost will be shared by the Greek consumer. With this project, Cyprus will cease to be alone,” she said.

Additionally, she urged the government to “think strategically” about the consequences of “remaining alone in this matter”.

Meanwhile, Greek Foreign Minister Giorgos Gerapetritis insisted there is “no risk of the project being aborted”.

Speaking to radio station Parapolitika, he said, “Greece is very clearly of the opinion that the project will continue as normal. Our country has surrounded this project with absolute confidence. After all, the company which has undertaken it is Greek.”

He added that the project is “extremely important, especially for Cyprus, since it will end its energy isolation.”

On the matter of potential “geopolitical risks” associated with the project, he said, “the cable will pass through the territorial waters of Greece and Cyprus and the Greek EEZ.”

The situation was likened to an incident which occurred off the Greek island of Kasos earlier in the summer, when the Turkish navy sent frigates to intercept an Italian research vessel.

He went on to say that in this regard, “cable laying is absolutely protected … and it is absolutely protected by international law.”