On March 10, 2025, Greece reaffirmed its commitment to the construction of the Great Sea Interconnector (GSI), a subsea electric cable designed to connect continental Europe with the Eastern Mediterranean.

Despite previous concerns over financial and geopolitical issues, Greece remains dedicated to the GSI project, which aims to link Europe to Cyprus.

The GSI is projected to cost approximately €1.9 billion and is intended to connect the transmission networks of Europe to Cyprus and eventually Israel.

Greek government spokesperson Pavlos Marinakis emphasized the commitment of all stakeholders to successfully complete this strategically important infrastructure project.

However, the project has encountered challenges, including the withdrawal of research vessels hired by Nexans to survey the cable route near Crete, due to Turkey's contestation of Greek jurisdiction in the area.

This dispute over maritime boundaries between Greece and Turkey has contributed to delays in the project's progress.

Additionally, there have been unusual disagreements regarding the project's viability between Greece and Cyprus, despite their traditional alliance.

Amid these challenges, the Israeli ambassador to Greece, Noam Katz, expressed strong interest in the GSI project, although he could not provide a specific timeline for implementation.

Cyprus’ Energy Minister George Papanastasiou acknowledged the interconnector as a complex project with significant technical, financial, and geopolitical challenges.

Financial issues have also surfaced, as recent reports indicated delays in payments from the Greek power grid operator IPTO to Nexans, causing a drop in the cable manufacturer's shares.

Despite these setbacks, Nexans later confirmed that it had received sufficient payments to continue work on the cable.

Looking ahead, the foreign ministers of Greece, Cyprus, and Israel are scheduled to meet in Athens on March 13, 2025, to further discuss the project's status.