The Cyprus-Crete electrical interconnection project will likely face some delays, Energy Minister George Papanastasiou said on Friday, adding that completion by the end of 2029 now appears to be a realistic target.

Speaking to reporters in Paphos, Papanastasiou described the project as “ambitious and optimistic” but acknowledged potential obstacles that could slow progress.

He revealed that a delegation from the French company Nexans, responsible for constructing the cable, is set to meet with him and Cyprus’ Energy Regulatory Authority (Cera) next week to provide an update on the project’s status.

Papanastasiou expressed confidence in the companies involved, stressing their involvement in similar interconnection projects and describing them as “capable of managing the unique challenges of the Cyprus-Crete link”.

“The contract covers key stages such as seabed surveys, cable production, and cable laying,” he said.

The agreement with Nexans, valued at €1.4 billion, is considered a crucial part of the Great Sea Interconnector project and is managed by the Greek Independent Power Transmission Operator (Admie), which serves as the project’s lead contractor.

“Admie sets the timelines in agreement with Nexans,” Papanastasiou said, adding that next week’s meeting with the company will provide clarity on the project’s progress and plans for the coming phases, especially the seabed surveys in Cypriot waters.

The minister indicated the need to assess whether the project remains on schedule to meet the 2029 target date.