Great Sea Interconnector project gains momentum with Meridiam entry

The Great Sea Interconnector (GSI) project, a major electrical interconnection initiative in the Eastern Mediterranean, has entered a new phase following the entry of the French investment group Meridiam into the shareholder structure. This development establishes a new financial and geopolitical framework for the project, which aims to link Greece, Cyprus, and potentially Israel.

A critical next step involves the issuance of a NAVTEX to allow for the resumption of seabed surveys. These surveys, intended to map the cable route between Crete and Cyprus in international waters, are considered a prerequisite for companies like Nexans to proceed with vessel chartering. The Greek Ministry of Foreign Affairs is expected to coordinate with France regarding this step, given Meridiam's significant investment interest.

Despite the new investment, geopolitical risks remain. The project faces potential challenges regarding maritime boundaries and regional tensions. The resumption of surveys is anticipated to take place in the autumn, serving as a test of the project's stability in the face of regional political complexities.