Today’s meetings in New York could prove decisive for the Great Sea Interconnector (GSI). Central to the outcome are Greek Prime Minister Kyriakos Mitsotakis’ encounter with Turkish President Recep Tayyip Erdoğan and the decision that Cypriot President Nikos Christodoulides will have to make.
A High-Stakes Meeting in New York
Today’s meeting in New York between Greek Prime Minister Kyriakos Mitsotakis and Turkish President Recep Tayyip Erdoğan, on the sidelines of the UN General Assembly, is not expected to break new ground in Greek–Turkish relations, which remain strained. Hopes in Athens are modest: at best, confirmation of continued dialogue.
But one issue cannot wait, the Great Sea Interconnector (GSI), the electricity link between Greece and Cyprus. Unlike the maritime boundary disputes, where time is not pressing, the interconnector faces a tight schedule. The Independent Power Transmission Operator (IPTO or ADMIE) has already spent around €250 million, EU funding remains in place, and the next step, seabed surveys needed before laying the cable has been blocked by Turkey in international waters.
Cyprus Holds the Purse Strings
Cyprus now takes center stage. Nicosia is refusing to release any funds to ADMIE unless the seabed surveys move forward. The funding dispute between Athens and Nicosia will also be on the table today, when President Christodoulides meets Prime Minister Mitsotakis in New York, following Mitsotakis’ talks with Erdoğan.
If Mitsotakis can persuade Erdoğan that Turkey has no legal grounds to block the project (a European venture that requires no Turkish approval) then the discussion between Athens and Nicosia will be straightforward. But if Erdoğan holds his line, the situation becomes far more complicated: Athens cannot be seen to yield to Turkish pressure without undermining its entire maritime strategy and provoking backlash at home.
A Delicate Balance
The Cypriot position has triggered public friction with Athens. Both leaders have since tried to cool tempers, but Nicosia has not shifted. Finance Minister Makis Keravnos insisted Friday there was “no dispute” with Athens, while Energy Minister Giorgos Papanastasiou reiterated Cyprus’ stance in Greek Ta Nea:
“Cyprus is ready to pay €25 million now and another €125 million as the project advances, provided the project is actually moving forward. So far, only a cable is being manufactured. To call it a project, there must be seabed surveys, substation planning, and a clear timeline leading to operation by end-2029. That is not happening.”
Geopolitics Overshadow Economics
Despite the funding row, Nicosia recognizes the interconnector’s geopolitical importance. “Sometimes we inflate simple problems into impossible ones. This can be managed,” Papanastasiou said, adding that Cyprus has never sought to exclude Turkey from regional energy plans.
Today’s talks in New York could prove decisive. The Great Sea Interconnector is no longer just an infrastructure project. Its geopolitical weight, and the diplomatic tensions it stirs, now far exceed the financial questions at stake.
The Independent Power Transmission Operator (IPTO or ADMIE)
