Cyprus GSI and EastMed projects receive EU approval
Cyprus GSI and EastMed projects receive EU approval
Cyprus received the green light on Monday for three key projects that are now officially on the EU's updated list of priority energy projects.
One of the most important projects is the Great Sea Interconnector (GSI), commissioned by the European Commission and awaited for years – the planned power line connecting Israel, Cyprus and Greece.
This project is intended to provide Cyprus with a direct connection to Israel and via Greece to the European mainland for the first time.
This project is intended to provide Cyprus with a direct connection to Israel and via Greece to the European mainland for the first time.
The Commission identified the GSI as a project of high strategic importance for Cyprus' energy security.
The EastMed gas pipeline also retained its status as an EU priority project and was reconfirmed
as a "project of common European interest". This pipeline is intended to bypass Turkey in the eastern Mediterranean and transport natural gas from the Levant via Cyprus to Greece.
as a "project of common European interest". This pipeline is intended to bypass Turkey in the eastern Mediterranean and transport natural gas from the Levant via Cyprus to Greece.
Cyprus is also part of the Prinos Apollo project, which will build an offshore CO₂ storage facility in the Greek Prinos field.
In the future, CO₂ quantities from several countries – including Cyprus – are to be stored there in order to establish a regional market for CO₂ capture and storage.
In the future, CO₂ quantities from several countries – including Cyprus – are to be stored there in order to establish a regional market for CO₂ capture and storage.
Energy Commissioner Dan Jorgensen said that the selected projects are expected to contribute to a "cleaner, cheaper and more reliable energy supply".
Two gas interconnection projects between Cyprus and Malta, which have been planned for some time, also remain on the list.
The EU Commission described the entire package of measures as an important step towards more energy cohesion and strategic independence.
The EU Commission described the entire package of measures as an important step towards more energy cohesion and strategic independence.
The investment requirement for electricity, hydrogen and CO₂ infrastructure by 2040 is currently estimated at around 1.5 trillion euros.
An additional EU electricity grid package, expected by 10 December, is to contain further reforms to accelerate grid expansion and optimise the distribution of subsidies.
The current list of priorities will now go to the EU Parliament and the Council for final approval.
Once officially adopted, the Commission intends to actively support Member States in accelerating further projects.
Once officially adopted, the Commission intends to actively support Member States in accelerating further projects.
Source: CyprusMail.com with kind permission for editorial use
Author: James Morphakis