Athens on Sunday responded sharply to President Nikos Christodoulides’s morning statements attacking Greece’s Independent Power Transmission Operator ADMIE, accusing it of extortion over payments for the Greece‑Cyprus–Israel power cable (Great Sea Interconnector). Just days after the Mitsotakis‑Christodoulides meeting in New York and their agreement on the cable framework, there is a sense in Athens that these forceful declarations risk derailing the project’s prospects.
Upon his return from Amorgos, Greece's Prime Minister Kyriakos Mitsotakis is convening an emergency meeting at 17:00 in the Maximos Mansion, bringing together the leadership of the Environment and Energy Ministry and ADMIE. Notably, the Prime Minister was with the relevant minister, Stavros Papastavrou, in Amorgos when the Cypriot reaction escalated, leading to the urgent session.
Behind the headlines
The unusually stern public warning from President Christodoulides that “the Cypriot Government is not subject to blackmail” and that the head of ADMIE “does not know who he is dealing with” was not a spur‑of‑the‑moment outburst, nor a bolt from the blue. It marks the climax of a mounting dispute over if, and how, the stalled Greece–Cyprus interconnector will move forward.
The spark was a Phileleftheros article claiming ADMIE had urged CERA (Cyprus Energy Regulatory Authority) to overturn the payment plan approved in July, demanding recognition of greater project costs. Sources within ADMIE (speaking unofficially) countered that it is not seeking an immediate claim for €82 million but “acknowledges and claims” only the €25 million first annual instalment as agreed.
The emergency meeting under Prime Minister Mitsotakis today at 17:00 will include the leadership of the Ministry of Environment & Energy and ADMIE’s management. The stakes are high: the lines of communication between Athens and Nicosia are under strain, and the project’s timeline hangs in the balance.
Why the first instalment has stalled
On 31 July 2025, CERA approved payment of €25 million to the implementing body (ADMIE) for January–December 2025, a plan politically agreed in 2024 and embedded in regulatory decisions. However, Nicosia insisted that the disbursement would happen only after certain prerequisites were met and after ADMIE presents a credible roadmap. The cable project has been stuck underwater off Kaso for months. CERA itself has clarified that approving the cost allocation mechanism does not equate to automatic payment before demonstrated real expenditure.
What ADMIE is demanding
According to Phileleftheros, ADMIE lodged an objection to the July CERA decision, arguing that actual verified expenditures exceed the €82 million acknowledged by Cyprus. The move is seen as an attempt to overturn the agreed payment regime. ADMIE reportedly insists that the suggestion of an immediate demand for €82 million is a misunderstanding, insisting it seeks only the agreed €25 million initially.
This political climate of claims, counterclaims and denials paints the backdrop that led President Christodoulides to raise the rhetorical stakes.
From EuroAsia to GSI
Originally, the project was a private initiative by EuroAsia Interconnector with strong European backing. In 2022 it secured €657 million via the Connecting Europe Facility and €100 million from the Cyprus Recovery Plan. But by fall 2023, the private company withdrew, unable to secure funding; ADMIE then assumed responsibility in January 2024 through the special vehicle Great Sea Interconnector.
In spring 2025, ADMIE halted payments to the French contractor Nexans, and an Italian survey ship working on subsea routes departed. Athens affirmed its commitment to continue marine surveys when conditions allow. Meanwhile, Turkey escalated interference via NAVTEX notices and obstructions in zones east of Kaso and Karpathos.
This interference carries real operational cost, raising risk and delay. Political figures in Athens, Nicosia, and across European capitals warn the cable’s Crete–Cyprus section may face new flashpoints with Turkey if deployed without precaution.
Brussels continuously frames the project as one of EU common interest and invests in it. But in September, the European Public Prosecutor’s Office (EPPO) confirmed it is investigating possible criminal acts tied to the earlier funding decisions conducted before ADMIE’s takeover. While no names were disclosed, the probe underscores that European backing is conditional and subject to scrutiny.
Who will bear the cost?
President Christodoulides insists Cyprus remains committed, viewing the interconnector as strategic to ending energy isolation. In parallel, Cyprus’s Finance Minister Makis Keravnos warns of non-viability studies and cautions that binding funds amid uncertainty is risky.
Government sources in Nicosia interpret Christodoulides’s and Keravnos’s positioning as a signal to Athens and ADMIE: Cyprus is ready to contribute but demands symmetrical commitments, firm milestones, clauses against new disruptions, and transparent accounting for already incurred costs.
Athens aims to avoid shouldering delays and overruns that might be passed to Greek taxpayers and consumers. ADMIE has already recorded substantial costs and insists it cannot continue paying contractors without regulatory clarity. Under that pressure, it seeks as much as possible from Cyprus, without guaranteeing project progress.
Real risks
The public debate in Cyprus and Greece has been punctuated by rumours of entangled interests and implicating political figures. Notably, an allegation linked a relative of Foreign Minister Georgios Gerapetritis (his father‑in‑law) to prior involvement in the project’s private phase (EuroAsia). Gerapetritis has forcefully denied the rumours and announced legal action against those spreading falsehoods. Until proven otherwise, these remain allegations and counterstatements. Meanwhile, EPPO’s ongoing investigation of the project’s prior era adds to the climate of uncertainty.
Cyprus faces a very tangible fiscal risk. The European Commission is demanding the return of €67.2 million by November for the LNG terminal project in Vasilikos. Though the government says the sum will not derail the budget, it remains a serious burden. That precedent serves as a warning for the interconnector: if Brussels demands clawbacks related to the cable, the fallout would be far greater.
Technical and institutional realities
The elements supporting the interconnector as a project ready for implementation are present: there is a plan, recognition of its importance, funding, an implementing body, a cable ready for laying, and strong political statements from Mitsotakis and Christodoulides. However, frozen payments to Nexans, withdrawn survey vessels, an ADMIE objection to CERA, and an EPPO inquiry together paint a picture of a project with high strategic value but also high operational and legal risk.
Today’s statement by Christodoulides is effectively a pressure tactic aimed at ADMIE for a mirrored commitment. Cyprus has accepted paying €25 million annually for construction and recouping more later, but insists on written guarantees: a timetable for cable laying, measures against Turkish interference, clauses to deal with new disruption, and transparent accounts of past expenditure. Until these are secured, it cannot release funds simply because an expense counter is running.
To unblock the first €25 million instalment, three conditions must be met:
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Updated technical plan for cable laying, with detailed work schedules and clear contingencies for Turkish actions.
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Transparency of expenditures, bridging the gap between the €82 million recognised by CERA and ADMIE’s claimed verified costs.
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A joint political framework between Athens and Nicosia with clauses that decouple the technical project from unpredictable geopolitical events.