After months of silence, the French company Nexans, the manufacturer of the Crete–Cyprus cable, has returned to the public dialogue, confirming that a rescheduling of the project’s implementation timetable is currently underway.

This development brings the electrical interconnection back into the spotlight—a project that for approximately 17 months has remained stuck between technical revisions, political announcements, and geopolitical pressures.

According to Nexans’ statement, the project continues to be carried out in line with the contractual obligations set in 2023; however, in cooperation with its client, the sequencing of the individual phases is being re-examined.

This change pushes back the completion date, without—according to the company—affecting its financial forecasts through 2028, thanks to the group’s large order backlog and the preventive measures being taken to mitigate any potential impact, starting in 2026.

Nexans is expected to present its forecasts for 2026 together with the results of its latest financial year on February 19.

Nexans’ announcement coincides with the project’s return to a high political level. On the sidelines of the recent trilateral meeting between Greece, Cyprus, and Israel, the three leaders reaffirmed their commitment to implementing the electrical interconnection, seeking to send a message of continuity and political will.

Israel’s message on the studies

A few days after the trilateral meeting, the President of the Republic of Cyprus, Nikos Christodoulides, left open the possibility of imminent announcements regarding the consultancy firm that will undertake the update of the techno-economic data for the Cyprus–Greece interconnection—a step considered critical for the project’s progress based on the latest agreement between the two countries.

At the same time, a clear message of acceleration is being sent from Tel Aviv. In a recent interview, Israeli Deputy Foreign Minister Sharren Haskel made it clear that her country does not intend to wait for the finalization of the Greece–Cyprus agreement and is moving toward the immediate implementation of the first phase of the interconnection with Cyprus. “Cooperation in the field of energy technology and economic cooperation are essential, and that is why we decided in Israel not to wait and to begin the first phase of this agreement (the Israel–Cyprus electrical interconnection),” the Israeli deputy minister stated.

Geopolitical pressures on the ground

Despite political assurances, developments surrounding the project underline the difficulties involved. The recent verbal harassment during cable-laying operations for a fiber-optic link between Naxos and Astypalaia by a Turkish warship confirms that subsea projects in the Eastern Mediterranean remain inextricably linked to geopolitical balances. In this context, the GSI has remained essentially stalled for more than a year, with timetable revisions, pending studies, and geopolitical tensions compounding one another.

The re-emergence of Nexans and statements from the Israeli side indicate that the project has not been abandoned, but continues to move forward with obstacles.