MVP

Tag: energy security

  • Military cooperation — Cyprus, Greece and Israel Strengthen Military Cooperation at Jerusalem Summit

    Military cooperation — Cyprus, Greece and Israel Strengthen Military Cooperation at Jerusalem Summit

    military cooperation — Cyprus, Greece and Israel have agreed to deepen military ties, reflecting a shared commitment to enhance cooperation among their armed forces during the 10th trilateral summit in Jerusalem. The leaders of the three nations—President Nikos Christodoulides of Cyprus, Prime Minister Kyriakos Mitsotakis of Greece, and Prime Minister Benjamin Netanyahu of Israel—issued a joint declaration acknowledging the historic significance of this collaboration amid evolving regional dynamics.

    Military cooperation: Expanding Defence Collaboration

    In their declaration, the leaders highlighted the necessity of strengthening defence and military cooperation, which they view as vital in addressing security challenges across the Eastern Mediterranean and beyond. They agreed to hold annual summits and increase trilateral meetings at ministerial and working levels, further solidifying their partnership.

    Joint Military Initiatives

    Reports have emerged suggesting that Greece, Cyprus, and Israel are exploring the creation of a joint rapid response brigade. This initiative aims to safeguard their energy interests in the Eastern Mediterranean while countering Turkish claims in the region. However, the Cypriot Ministry of Defence has downplayed these reports, indicating that while discussions are ongoing, no formal plans have been established.

    Commitment to Security and Counter-Terrorism

    The summit underscored a unified stance against terrorism, with leaders pledging to enhance cooperation in security matters. They reaffirmed their commitment to combating terrorism financing and ensuring maritime security, which is crucial for protecting sea lanes and critical infrastructure from emerging threats. The establishment of the Maritime Cyber Security Centre of Excellence in Cyprus is expected to commence operations in 2026, aiming to bolster regional maritime security efforts.

    Humanitarian Efforts and Regional Stability

    The leaders also recognised the humanitarian contributions of Cyprus and Greece towards Gaza, particularly through the Amalthea maritime corridor. This initiative is coordinated with Israel and international partners to facilitate humanitarian aid effectively. They reiterated the importance of ensuring that such aid reaches civilians safely and is not misused by extremist groups.

    Emergency Preparedness Initiatives

    As part of their cooperation framework, Cyprus, Greece, and Israel have agreed to establish a trilateral working group focused on emergency preparedness and response. This group will facilitate rapid assistance during natural disasters. Additionally, plans are underway for creating a Cyprus Regional Aerial Firefighting Station, which aims to enhance the capabilities of the three nations in responding to environmental crises.

    Energy Collaboration and Infrastructure Projects

    The summit also highlighted the commitment to joint energy projects, including natural gas development and renewable energy initiatives. The leaders referenced the Great Sea Interconnector project and the recent 3+1 Energy Ministerial Summit, which included participation from the US, as pivotal steps towards promoting energy security in the region.

    Advancing Science and Technology Cooperation

    In a bid to foster innovation, the leaders agreed to strengthen trilateral cooperation in science and technology. This includes the establishment of a working group dedicated to artificial intelligence and joint research initiatives, aiming to enhance their capabilities in critical policy areas and high-performance computing.

    Deepening Cultural and Educational Ties

    Beyond military and technological collaboration, the nations expressed a desire to deepen cultural, educational, and academic exchanges. They have committed to accelerating existing agreements on environmental education and youth exchanges, recognising the importance of people-to-people ties in strengthening their partnership.

    Addressing Regional Challenges

    The leaders acknowledged the complexities of the regional landscape, including the ongoing dialogue between Israel and Lebanon. They reiterated their support for Lebanon’s sovereignty and stressed the importance of maintaining the status quo at the Holy Places in Jerusalem, underscoring the city’s significance for Judaism, Christianity, and Islam.

    As they look to the future, the leaders expressed optimism about the potential for collaboration. Christodoulides remarked on the reliability and resilience of their partnership, stating, “There are no limits to the prospects for cooperation between Cyprus, Greece, and Israel.” As the nations aim to solidify their commitments in defence, energy, and humanitarian efforts, their collaboration presents a strategic response to the challenges facing the region.

  • Uncertainty Surrounds Great Sea Interconnector Cost and Future

    Uncertainty Surrounds Great Sea Interconnector Cost and Future

    The Great Sea Interconnector’s future is shrouded in uncertainty as discussions about its cost intensify. Recent talks in Athens led to an agreement to ‘update the techno-economic’ parameters, a move interpreted by many as indicative of stalled progress on the project. While some view this as a necessary step forward, others see it as a sign that the interconnector is struggling to gain momentum.

    Photo: cyprus-mail.com

    Great sea: Debate Over Project Viability

    Opinions on the interconnector diverge sharply. Critics argue that the announcement of a new feasibility study suggests a fundamental reassessment of the project. The GSI, which aims to connect the electricity grids of Cyprus and Greece via a subsea cable, currently faces a significant funding gap, estimated to be around €1 billion. Those sceptical of the project highlight that the necessity of further studies indicates a lack of confidence in its financial viability.

    Photo: cyprus-mail.com

    Funding Challenges

    Despite optimistic claims from Admie, Greece’s independent transmission operator and the project’s promoter, evidence of substantial investment interest remains elusive. Claims that the United States International Development Finance Corporation is considering involvement lack concrete backing. Currently, Admie has capital estimated between €250 million and €300 million and has also secured €650 million in grants from the European Commission. However, the projected cost of the interconnector stands at approximately €1.9 billion, leaving a significant funding shortfall.

    Government Statements and Investor Interest

    Following the Athens summit, Greek Energy Minister Stavros Papastavrou asserted that genuine interest from American investors exists. He stated, “Interest has been exhibited from the Americans, from American companies. We are in an exploratory phase. The Americans, as well as anyone else desiring to invest in a long-term project, they want the numbers, they want the data to understand the what, the how, and the where.”

    This perspective suggests that the feasibility study’s purpose is to provide clarity on costs, which will be critical for attracting potential investors. The study aims to determine whether the project can yield a healthy return on investment and if financial institutions will be willing to back it.

    Concerns Amidst Optimism

    However, sceptics raise valid concerns about the potential ramifications of the feasibility study. They question what would occur if the findings indicate that the interconnector is not financially viable. Would the governments of Cyprus and Greece proceed with a project deemed unfeasible? This uncertainty complicates the already precarious situation surrounding the GSI.

    Further complicating matters, the Turkish navy has deployed gunships to halt depth surveys required for the subsea cable, raising questions about the project’s feasibility if these critical surveys cannot be completed. A source familiar with the situation revealed that there is currently no clear understanding of the GSI’s total cost, contradicting positive outlooks from some officials.

    Historical Context and Previous Studies

    The interconnector project has a complicated history. Initially undertaken by EuroAsia Interconnector Ltd., the project was passed to Admie in October 2023. The Cypriot finance ministry previously submitted a cost-benefit analysis to the European Investment Bank (EIB) when EuroAsia was still involved, seeking an opinion rather than a loan application. The EIB’s recommendation advised Cyprus to invest in energy storage solutions instead.

    Admie later engaged the same consultancy that evaluated EuroAsia’s analysis to perform a second cost-benefit study, which indicated a more favourable outcome for the interconnector, albeit based on several optimistic assumptions.

    Political Perspectives and Future Prospects

    In light of the uncertainty, some remain steadfast in their belief that the GSI is essential for Cyprus’s energy security. Pavlos Liasides, who formulates energy policy for the Disy party, stated, “The GSI is a project that must be done, and will be done. It cannot be otherwise.” Liasides emphasised the interconnector’s significance in the broader context of regional energy needs, connecting Cyprus to the Middle East and Europe.

    He also highlighted the geopolitical implications of the project, noting that plans for interconnectors have been influenced by various international stakeholders, excluding certain nations, including Turkey. This exclusion adds a layer of complexity to the project’s implementation.

    Cost Implications for Consumers

    Addressing concerns about the project’s costs, Liasides pointed out that even if the GSI were to be completed without being utilised, the financial impact on consumers would be minimal, estimating an increase of only €15 per year on their bills over 25 to 30 years.

    Future Collaboration Between Cyprus and Greece

    Despite any perceived tensions between Cyprus and Greece regarding the interconnector, Liasides expressed confidence in the collaboration between the two nations. He noted the leaders’ public commitment to the project during their recent meeting in Athens, suggesting that both governments remain aligned in their objectives.

    As discussions continue, Liasides cautioned against inflammatory rhetoric that could undermine their efforts. He stated, “The GSI has adversaries; they are out there, lurking to poison relations between us and the Greek government. We mustn’t give them any ammunition.” This sentiment underscores the delicate balance that both countries must maintain as they navigate the complexities surrounding the Great Sea Interconnector.