Headlines
Cyprus talks to UAE over European subsea cable project, president says
Published by Global Banking and Finance Review
Posted on September 8, 2025
2 min readLast updated: January 22, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on September 8, 2025
2 min readLast updated: January 22, 2026
Cyprus is negotiating with the UAE for a subsea cable project linking Europe to the Mediterranean, amid an ongoing investigation.
NICOSIA (Reuters) -Cyprus has approached the United Arab Emirates for possible cooperation on an EU-financed subsea power cable linking Europe to the eastern Mediterranean region, it said on Monday, reaffirming its commitment to the project.
European prosecutors said last Thursday that they had launched an investigation into possible criminal offences relating to the 1.9 billion euro ($2.2 billion) cable to link Greece with Cyprus and later to Israel, a project all three countries say they support despite a series of delays.
"To cite just one example that proves this political commitment of ours, I myself and the foreign minister visited the United Arab Emirates," Cypriot President Nikos Christodoulides told reporters after comments from Greek Prime Minister Kyriakos Mitsotakis at the weekend urging Cyprus to clarify its views on the matter.
"I met with the president of the country precisely to discuss this issue and to consider the possibility of a joint partnership ... to invest in other areas related to this project."
Christodoulides did not comment on the European investigation announced last week.
The cable is being built by Greek transmission operator IPTO, which took over in late 2023 from a Cyprus-based operator that had been working on the project for about a decade.
Project promoters say the link would be the world's longest high-voltage cable at 1,240 km (770.5 miles) and also the deepest, at 3,000 metres.
Cyprus has repeatedly sought clarifications on the total cost of the project, its viability and any liabilities for unforeseen delays.
($1 = 0.8532 euros)
(Reporting By Michele KambasEditing by David Goodman)
The subsea cable project aims to link Europe with the eastern Mediterranean region, enhancing energy connectivity.
The cable is being built by the Greek transmission operator IPTO, which took over the project from a Cyprus-based operator.
The cable will be the world's longest high-voltage cable at 1,240 km (770.5 miles) and the deepest at 3,000 meters.
Cyprus has sought clarifications on the total cost, viability, and any liabilities for unforeseen delays related to the project.
European prosecutors have launched an investigation into possible criminal offenses relating to the 1.9 billion euro cable project.
Explore more articles in the Headlines category
