Discussions on the €1.9 billion electricity interconnection linking Cyprus with Greece, called the Great Sea Interconnector (GSI) will continue, Cyprus President Nikos Christodoulides has said.

The President chaired a lengthy discussion on Tuesday with the Greek Minister of the Environment and Energy Theodoros Skylakakis, Cypriot Minister of Energy, George Papanastasiou, the Finance Minister Makis Keravnos, the chief of the project promoter, the Greek IPTO, as well as the Attorney-General of the Republic and representatives of the European Commission and, the French Nexans which will construct the electric subsea cable linking the two countries.

In statements after the 4.5-hour long meeting, the President said having the meeting “was a good decision,” noting that “the discussion was constructive as it helped to clarify a lot of things which were ambiguous and were not clear.”

“The discussion will continue, it was a good decision to hold this discussion,” he added.

Papanastasiou on his part echoed the President, stating that “the discussion was constructive and needs to continue”, he nevertheless refrained from stating whether the sides were closer or further apart.

He also said the discussion was finished as the Greek Minister had to leave for Athens, adding the sides will continue consultations. He however stated that there are “no ultimatums.”

On his part the Greek Minister stated the meeting was constructive and added “the work continues.”

He could not clarify whether progress was achieved on the issue raised by Athens over the project financial viability via the Regulatory Framework governing the project, considered by the EU as a project of common interest (PCi), receiving a €657 million grant.