No Result
View All Result
SUBMIT YOUR ARTICLES
  • Login
Thursday, July 9, 2026
TheAdviserMagazine.com
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal
No Result
View All Result
TheAdviserMagazine.com
No Result
View All Result
Home Market Research Business

Turkey obstructs Israel-Cyprus-Greece power grid connection

by TheAdviserMagazine
1 month ago
in Business
Reading Time: 5 mins read
A A
Turkey obstructs Israel-Cyprus-Greece power grid connection
Share on FacebookShare on TwitterShare on LInkedIn


The Great Sea Interconnector is a planned interconnector between the Israeli, Cypriot and Greek power grids via the world’s longest underwater power cable. The project, extending over 1,200 kilometers, which would link the Israeli, Cypriot and Greek grids to mainland Europe, is moving ahead but may encounter a direct challenge from Turkey.

The plan awaits a cost-benefit analysis of the 330-kilometer section between Israel and Cyprus, which will be adopted within a few weeks. However, Turkey, which does not recognize the boundaries of the economic waters in the eastern Mediterranean in accordance with international law, is promoting a legislative process that could turn the move into an explosive regional issue.

Turkey, which is not a signatory to the Convention on the Continental Shelf and the UN Convention on the Law of the Sea (UNCLOS), believes Greece’s Aegean Islands are a continuation of Anatolia. This is despite the prevailing belief in the international community that the islands are independent parts of the mainland that are not connected to the mainland. In other words, each island has an independent continental shelf as a result of which it is entitled to territorial waters extending out 12 nautical miles. Following a compromise, each island is entitled to six nautical miles.

The planned Turkish law

In an already tense situation, Tukey’s ruling Justice and Development Party (AKP), led by Turkish President Recep Tayyip Erdogan, plans to enact the “Blue Homeland” Law next month, based on a vision of Turkey controlling all areas in the Eastern Mediterranean, Aegean Sea and Black Sea. In practice, this would set that Turkish territorial waters extend out 12 nautical miles at the expense of Greek territories. This measure would harm the legal rights of the Greeks over the area, for fishing, energy, and underwater infrastructure for electricity and communication cables.

The Great Sea Interconnector project is already facing restrictions imposed by the Turks. A year ago, the Greeks decided to ignore Turkey’s threats and declare a closed maritime area to begin deployment in the area of the islands of Kasos and Karpathos (between Rhodes and Crete). The Italian ship NG Worker is already anchored at the deployment site, but has been repeatedly threatened, with the Turks saying it will cut the cables, and Greece preferring to avoid a unilateral move, fearing a direct military confrontation.

Dr. Hay Eytan Cohen Yanarocak, an expert on Turkey at the Moshe Dayan Center at Tel Aviv University and the Jerusalem Institute for Strategic Studies, explains that Turkey sees the alliance of Cyprus, Greece, and Israel, in all its aspects, as a security threat against it. “This is why they are promoting the bill that will unilaterally define the borders of the blue homeland. In this way, they will be able to fight with Greece legally and also see the issue of maritime borders as a pretext for war. As a result, the laying of a cable or any underwater infrastructure in the area is perceived from their perspective as a violation of the sovereignty of the blue homeland. I would not be surprised if this leads to an escalation in the Eastern Mediterranean.”





RELATED ARTICLES




Israel nears pact with Cyprus on Aphrodite-Ishai gas reservoir


Energean signs MoU to export Israeli gas to Cyprus






Israel needs the connection

Despite the danger of a direct confrontation with Turkey, Israel badly needs the interconnector to be implemented. Today, the Israeli electricity grid stands on its own. Such a project would connect Israel to neighboring countries, and also to the European electricity grid. The security benefit is enormous, and since in the escalation with Iran it is clear that critical infrastructures become targets.

By connecting to neighboring grids, Israel will be able, in an extreme scenario of damage to power plants, to purchase electricity from its neighbors. The same scenario could also be used in times of technical malfunctions or extremely large consumption.

A senior Greek official tells “Globes” that his country, Israel, and Cyprus are interested in promoting the interconnector, but Turkey does not care about international law or the rights of its neighbors. “Everything that happens in the Eastern Mediterranean must receive approval and support from the US. The Americans support the project, at all levels, but despite this, we know there is a close relationship between Trump and Erdogan.

“The section between Crete and Cyprus is the big problem, because of the Turkish factor. It’s not new, but we are in a new chapter of the same problem with the blue homeland. The Turks are doing whatever they want, completely contrary to international law.”

How will the project be financed?

This is also Cyprus’s motive, as the only country in the EU not connected to the European electricity grid. The three countries are awaiting the results of the examination of the Israeli-Cypriot section, which is needed to determine the cost-sharing mechanism.

The Israeli-Cypriot section has three unique challenges: the first – technical, the seabed. The second is economic, because unlike the Greek-Cypriot section – the EU does not intend to take part in the financing. Therefore, the parties are expected to turn to bank loans and the private market. In Greece, it is reported that international funds and energy companies from Europe, the US and the Middle East are already considering investing in the project.

The third challenge is Turkey. Following a Greek-nationalist military coup in Cyprus in 1974, Turkey invaded. The invasion, ostensibly intended to serve the Turkish minority in Cyprus, led to the establishment of the Turkish Republic of Northern Cyprus in 1983, a de facto state that only Turkey recognizes. In return for that recognition, Ankara declares the Turkish Republic of Northern Cyprus’ right to economic waters. Unilaterally ignoring Northern Cyprus could also lead Turkey to act, because the de facto state has no security forces except for local police and its protector is Turkey.

To Israel’s delight and Turkey’s displeasure, the Cypriots are willing to move forward, also because of their own internal economic considerations as Cyprus’s electricity rates are among the highest in the EU.

According to an article by Ambassador (retired) Michael Harari, a senior researcher at the Begin-Sadat Center at Bar-Ilan University, Cyprus is supposed to cover a significant portion, at least, of the costs of the section between it and Greece.

The investment to connecting Cyprus and Greece will cost an estimated €1.9 billion, and about 35% of the funding will come from the EU. (€657 million). The balance is supposed to be divided between Cyprus, which will pay 63% (about €786 million), and Greece (€460 million).

Israel’s Ministry of Energy and Infrastructures said, “The project is currently in the final stages of the cost-benefit analysis, after which the cost-sharing phase between the countries will be completed. As for the timetables, all partners in the project are working to accelerate its progress, but this is a complex project whose completion is expected to take several years.”

Published by Globes, Israel business news – en.globes.co.il – on May 28, 2026.

© Copyright of Globes Publisher Itonut (1983) Ltd., 2026.




Source link

Tags: connectiongridIsraelCyprusGreeceobstructsPowerTurkey
ShareTweetShare
Previous Post

U.S. companies spend $1.7 billion annually to halt union formation 

Next Post

Democrat Hopes for Senate Takeover Hit a Reality Roadblock

Related Posts

edit post
Wall Street ticks up as tech hopes offset Middle East worries

Wall Street ticks up as tech hopes offset Middle East worries

by TheAdviserMagazine
July 9, 2026
0

By Marc Jones and Pete Schroeder LONDON, July 9 (Reuters) - Global stocks edged higher while bond markets and currencies...

edit post
Current price of oil as of July 9, 2026

Current price of oil as of July 9, 2026

by TheAdviserMagazine
July 9, 2026
0

By 8:05 a.m. Eastern Time today, oil had reached $79.25 per barrel, measured using the Brent benchmark. That’s $1.08 more...

edit post
Institutional investors weakening shekel – Globes

Institutional investors weakening shekel – Globes

by TheAdviserMagazine
July 9, 2026
0

The shekel-dollar exchange rate, which just last month was NIS 2.8/$, has sharply changed direction in recent weeks and...

edit post
The Platner Problem: Is Political Vetting Broken?

The Platner Problem: Is Political Vetting Broken?

by TheAdviserMagazine
July 9, 2026
0

The vetting process for political candidates has been brought into sharp focus after Graham Platner suspended his Senate campaign in...

edit post
Dr Reddy’s shares slide 7% after delay in semaglutide supplies over quality concerns

Dr Reddy’s shares slide 7% after delay in semaglutide supplies over quality concerns

by TheAdviserMagazine
July 9, 2026
0

Shares of Dr Reddy's Laboratories fell 6.5% to Rs 1,261 on the BSE on Thursday after the company said commercial...

edit post
Premier Explosives rises 4% on Apollo Micro Systems deal buzz

Premier Explosives rises 4% on Apollo Micro Systems deal buzz

by TheAdviserMagazine
July 9, 2026
0

Apollo Micro Systems shares rose 1%, while Premier Explosives climbed 4%, after the defence manufacturer was reported to be nearing...

Next Post
edit post
Democrat Hopes for Senate Takeover Hit a Reality Roadblock

Democrat Hopes for Senate Takeover Hit a Reality Roadblock

edit post
US Strikes Iran as Trump Vows to ‘Finish the Job’ if No Deal Reached

US Strikes Iran as Trump Vows to ‘Finish the Job’ if No Deal Reached

  • Trending
  • Comments
  • Latest
edit post
Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

Mass Fraud in Massachusetts Committed by Illegal Immigrants Discovered

June 22, 2026
edit post
New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

New York Seniors: 6 STAR Tax Relief Rules That Could Put a Bigger Check in Your Mailbox

June 20, 2026
edit post
5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

5 Pennsylvania Rebate Rules Seniors Should Check Before the Property Tax/Rent Deadline

June 18, 2026
edit post
Retail giant exits U.S. fashion after multi-million-dollar scandal

Retail giant exits U.S. fashion after multi-million-dollar scandal

July 1, 2026
edit post
Same Portfolio. Same Retirement. A 10-Mile Move Costs One Couple ,000 A Year

Same Portfolio. Same Retirement. A 10-Mile Move Costs One Couple $10,000 A Year

June 27, 2026
edit post
Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

Louisiana’s Age-Tiered Homestead Exemption: 8 Details About the Proposed 2028 Amendment

June 15, 2026
edit post
*HOT* My Texas House Ruffled-Edged Plates 4-Count only .49, plus more!

*HOT* My Texas House Ruffled-Edged Plates 4-Count only $5.49, plus more!

0
edit post
Every playful AI picture carries a hidden price — making just one image can use about as much energy as fully charging your smartphone, one study found

Every playful AI picture carries a hidden price — making just one image can use about as much energy as fully charging your smartphone, one study found

0
edit post
Wall Street ticks up as tech hopes offset Middle East worries

Wall Street ticks up as tech hopes offset Middle East worries

0
edit post
5 Positive Signs Your Trading Is On Track

5 Positive Signs Your Trading Is On Track

0
edit post
BREAKING: Wells Fargo Discloses Huge Crypto Holdings in Bitcoin, ETH, SOL, MSTR, BMNR

BREAKING: Wells Fargo Discloses Huge Crypto Holdings in Bitcoin, ETH, SOL, MSTR, BMNR

0
edit post
Premier Explosives rises 4% on Apollo Micro Systems deal buzz

Premier Explosives rises 4% on Apollo Micro Systems deal buzz

0
edit post
*HOT* My Texas House Ruffled-Edged Plates 4-Count only .49, plus more!

*HOT* My Texas House Ruffled-Edged Plates 4-Count only $5.49, plus more!

July 9, 2026
edit post
Wall Street ticks up as tech hopes offset Middle East worries

Wall Street ticks up as tech hopes offset Middle East worries

July 9, 2026
edit post
Every playful AI picture carries a hidden price — making just one image can use about as much energy as fully charging your smartphone, one study found

Every playful AI picture carries a hidden price — making just one image can use about as much energy as fully charging your smartphone, one study found

July 9, 2026
edit post
5 Positive Signs Your Trading Is On Track

5 Positive Signs Your Trading Is On Track

July 9, 2026
edit post
BREAKING: Wells Fargo Discloses Huge Crypto Holdings in Bitcoin, ETH, SOL, MSTR, BMNR

BREAKING: Wells Fargo Discloses Huge Crypto Holdings in Bitcoin, ETH, SOL, MSTR, BMNR

July 9, 2026
edit post
Current price of oil as of July 9, 2026

Current price of oil as of July 9, 2026

July 9, 2026
The Adviser Magazine

The first and only national digital and print magazine that connects individuals, families, and businesses to Fee-Only financial advisers, accountants, attorneys and college guidance counselors.

CATEGORIES

  • 401k Plans
  • Business
  • College
  • Cryptocurrency
  • Economy
  • Estate Plans
  • Financial Planning
  • Investing
  • IRS & Taxes
  • Legal
  • Market Analysis
  • Markets
  • Medicare
  • Money
  • Personal Finance
  • Social Security
  • Startups
  • Stock Market
  • Trading

LATEST UPDATES

  • *HOT* My Texas House Ruffled-Edged Plates 4-Count only $5.49, plus more!
  • Wall Street ticks up as tech hopes offset Middle East worries
  • Every playful AI picture carries a hidden price — making just one image can use about as much energy as fully charging your smartphone, one study found
  • Our Great Privacy Policy
  • Terms of Use, Legal Notices & Disclosures
  • Contact us
  • About Us

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Home
  • Financial Planning
    • Financial Planning
    • Personal Finance
  • Market Research
    • Business
    • Investing
    • Money
    • Economy
    • Markets
    • Stocks
    • Trading
  • 401k Plans
  • College
  • IRS & Taxes
  • Estate Plans
  • Social Security
  • Medicare
  • Legal

© Copyright 2024 All Rights Reserved
See articles for original source and related links to external sites.