Euroasia Interconnector, a consortium of Cypriot interests heading a PCI-status grid interconnection to link the Greek, Cypriot and Israeli systems, is prepared to collaborate with Greek authorities for the development of the project’s Greek segment, to connect Crete with Athens, as long as Greece accepts a related road map set by the European Commission last October, sources have informed.

Essentially, this can be interpreted as a Cypriot demand for Greece to accept the project’s technical specifications that were rejected by Greek power grid operator IPTO and the previous Syriza government.

Last year’s road map includes all the technical, financial and interconnection details concerning the project’s three segments, linking Athens with Crete, Crete with Cyprus and Cyprus with Israel. Absolute compatibility is essential.

Greek energy minister Costis Hatzidakis, who met yesterday with Euroasia Interconnector’s top officials, emphasized the importance being placed by the newly elected conservative New Democracy government on the project’s swift development.

Fast progress will serve as the main criterion when determining action to be taken, Hatzidakis stressed at the meeting, in Nicosia, adding that, if possible, the support of EU funds would be a bonus. PCI projects are entitled to EU support funds.

IPTO and Euroasia Interconnector have been at odds for control over the development of the project’s Crete-Athens segment. It is needed urgently to prevent a looming energy shortage on Crete as of next year, when old units still operating on the island will need to be withdrawn to align the country with EU environmental policies.