{"id":18989,"date":"2026-08-06T17:06:33","date_gmt":"2026-08-06T17:06:33","guid":{"rendered":"https:\/\/in-greece.com\/index.php\/2026\/08\/06\/papastavrou-welcomes-frances-meridiam-entry-into-gsi-project-greek-city-times\/"},"modified":"2026-08-06T17:06:33","modified_gmt":"2026-08-06T17:06:33","slug":"papastavrou-welcomes-frances-meridiam-entry-into-gsi-project-greek-city-times","status":"publish","type":"post","link":"https:\/\/in-greece.com\/index.php\/2026\/08\/06\/papastavrou-welcomes-frances-meridiam-entry-into-gsi-project-greek-city-times\/","title":{"rendered":"Papastavrou Welcomes France\u2019s Meridiam Entry Into GSI Project \u2013 Greek City Times"},"content":{"rendered":"


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Greek Environment and Energy Minister Stavros Papastavrou said the agreement bringing French investment group Meridiam in as majority shareholder of the Great Sea Interconnector (GSI) creates new momentum for the Greece-Cyprus-Israel electricity link.<\/h4>\n
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Speaking after the deal was signed at the Maximos Mansion in Athens in the presence of Prime Minister Kyriakos Mitsotakis, Papastavrou told Greek television channel OPEN that the partnership joins Greece\u2019s Independent Power Transmission Operator (IPTO\/ADMIE) with a major French investor experienced in similar projects.<\/p>\n

\u201cEssentially, ADMIE is joining forces with a very large French investment group, which has carried out the underwater electricity interconnection between the United Kingdom and Germany. Therefore, it has completed a similar project, worth \u20ac2.8 billion, with comparable technical difficulty,\u201d he said.<\/p>\n

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Papastavrou acknowledged that the GSI faces technical, geopolitical and financial challenges. \u201cNobody said that all these problems would be solved magically in one day,\u201d he noted. \u201cOne thing is certain: the creation of this new strong momentum will certainly help address all these difficulties in a much better way.\u201d<\/p>\n

He stressed that the interconnection is a European issue, not solely a matter for Greece, Cyprus and Turkey, and highlighted the strengthened Greece-France relationship demonstrated by the deal.<\/p>\n

According to the minister, completing the GSI will end Cyprus\u2019 energy isolation and enhance energy security across the Eastern Mediterranean. A cost-benefit study for the Cyprus-Israel section is expected to be finished in the coming days and submitted to the regulatory authorities of both countries.<\/p>\n

\u201cElectricity interconnections are essential for Europe\u2019s energy security, and especially for the Eastern Mediterranean,\u201d Papastavrou said. \u201cWe are therefore moving forward with decisive steps so that the Greece-Cyprus-Israel electricity interconnection can be completed.\u201d<\/p>\n

On Turkey\u2019s stance, he said Greece must rely primarily on its own capabilities while building strong alliances. \u201cHistory has shown that we will protect ourselves, and we must first and foremost rely on our own strength. However, we live in a very complex world that changes every day, and it is crucial for our country to create strong alliances.\u201d<\/p>\n

He added that Greece\u2019s exercise of its sovereign rights depends on its own determination within the framework of international law and the law of the sea, not on the reactions of other countries.<\/p>\n

\u201cGreece\u2019s strategy for the Eastern Mediterranean is a strategy of creation, development and progress for all countries in the region, without exclusions, but without accepting any coercive practices or threats,\u201d Papastavrou concluded. \u201cThreats no longer have a place in the modern Eastern Mediterranean.\u201d<\/p>\n