Cyprus and Greece advance Eastern Mediterranean energy strategy

Cyprus is developing a long‑term strategic energy plan that aims to secure supply, lower electricity costs and cut carbon emissions by 2040. The plan calls for diversification away from single sources, accelerated adoption of natural‑gas as a transition fuel, expansion of solar power, investment in battery storage and grid upgrades, and the creation of a competitive electricity market.

At the same time, Greece’s Minister of Environment and Energy, Stavros Papastavrou, announced new cooperation with the United States and major oil companies. A 3+1 partnership among Greece, Cyprus, Israel and the United States has been formalised, the Eastern Mediterranean Energy Centre (EMEC) will be established, and the U.S. Senate’s Eastern Mediterranean Gateway Act was approved, signalling strong backing for regional hydrocarbon projects such as Block 10 involving Chevron and Hellenic Energy. Both countries see the initiative as a way to attract investment, boost public revenues and enhance geopolitical stability in the Eastern Mediterranean.