Nicosia’s intention to proceed with new electrical interconnections with neighbouring countries, thereby strengthening Cyprus’ regional role in the energy map, was highlighted by President, Nikos Christodoulides, in his speech at the 13th Energy Symposium on Wednesday.
The President stressed that Cyprus’ participation in the “3+1” mechanism with Greece and the US confirms the country’s strategic goal of being part of the energy solutions in the Eastern Mediterranean, with the aim of strengthening energy security and aligning its interests with those of powerful states. As he noted, Cyprus seeks to function as an alternative energy corridor to Europe.
President Christodoulides also referred to estimates for 2027 regarding the export of the first natural gas from Cypriot deposits through the Kronos-Damietta infrastructure, emphasizing that such a development would be a significant milestone and would effectively place Cyprus on the EU’s energy map.
A central point of his statement was the electrical interconnection with Greece. The President said that cooperation between the two countries is a firm strategic choice and that, in full consultation with the Greek Prime Minister, a decision was recently taken to update the economic and technical parameters of the project. This is a critical infrastructure that will connect Cyprus to Europe in terms of energy and will strengthen long-term security of supply.
“Our position is clear with regard to energy interconnection, while at the same time we are discussing such electrical interconnections with other neighbouring countries,” said the President.
Interest from energy giants and energy contacts in Lebanon
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At the same time, the President said that there is interest from energy giants to operate in additional blocks of the Cypriot EEZ.
“It is something we are discussing, and I believe we will make decisions soon,” he said.
He also announced that on November 26, he will travel to Lebanon for meetings dedicated exclusively to energy plans.
“We are now entering the stage of actual exploitation, which, among other things, enhances our country’s international image, attracts investment, strengthens regional cooperation, and more,” he said.
He added that the big energy challenge that needs to be addressed is to link energy plans and developments in the Eastern Mediterranean with Europe’s broader plans, something that concerns the European Union. As he said, even so many years after the war in Ukraine, Europe has not completely freed itself from its energy dependence on third countries, so there is a prospect that the Eastern Mediterranean could also function as an alternative energy corridor for Europe.
“At a time when energy determines alliances, partnerships, balances, and strategic choices, our country, taking advantage of the characteristics I mentioned earlier, is trying in practice, not just in words, to be with those who offer solutions and not with those who create problems,” he said.
Referring to the Cypriot reserves, he pointed out that the recent discovery of Pegasus in block 10 brings the total estimated quantities to approximately 20 trillion cubic feet. He recalled that the procedures for the Aphrodite and Kronos deposits are in full swing, with a final investment decision expected in 2026. According to the companies’ estimates, the first export of Cypriot natural gas from Kronos, via Damietta, is scheduled for 2027, which, he said, will be a “significant energy development” that will effectively place Cyprus on the energy map of Europe.
The President also referred in detail to the green transition, noting that the Government is seeking to increase the penetration of renewable energy sources, while at the same time ensuring that vulnerable households and vulnerable groups of citizens are not left behind. He emphasized that significant projects to upgrade transmission and distribution networks worth pound 114 million are being promoted, while plans for energy storage and the development of energy communities are underway, with Tillyria being the first pilot example.
“From 2026, the experience of this pilot project that we have carried out and are implementing in Tillyria will be turned into policy for the whole country,” he said.
Despite the fact that the RES penetration rate has increased in Cyprus to 23%, he said that he is ‘not at all satisfied” for a country with such a high sunshine index and expressed the Government’s determination to accelerate the transition to a greener, more competitive energy system.
The President of the Republic stressed that the energy transition requires consistency, cooperation, and planning. He acknowledged that there are difficulties and that there is much that should have been done years ago, but noted that the government is determined to proceed realistically, responsibly, step by step, with the interests of the country, its citizens, and businesses in mind.
He recalled that the government’s strategy is based on three pillars and pointed out that with a clear plan and design, with cooperation and alliances with Cyprus’ partners, the country is moving forward with the sole aim of ensuring electricity sufficiency and reducing electricity costs. As he said, this is “a big bet that we are working to win.”