Cyprus has big plans for energy. It wants to be independent and improve its roads. However, many important projects are now very late. Some projects have stopped completely. This makes it hard to be sure about the island's energy future. There are legal problems, investigations, and worldwide supply issues. These problems stop important energy work. They also threaten the island's future energy security.
A main problem is the Vasilikos LNG terminal. This is key for Cyprus's energy plan. It needs different energy sources. This project has stopped because of legal disagreements. The European Public Prosecutor's Office is also investigating. They are checking EU money for the terminal. Cyprus wants back €67 million from the EU. The EPPO's work shows serious money checks. More problems come from legal talks in London. Cyprus might look for new companies to finish the project.
Other problems affect the Electricity Authority of Cyprus (EAC). They are waiting for three new power generators. These are from Siemens. They were meant for the Dhekelia power station. The delivery is now delayed until 2030. This is four years later than planned. Global demand for power equipment is high. Many companies are busy building for data centres in the USA. The EAC chairman worries about enough electricity by 2029. This is when old power units will stop working.
The Greece-Cyprus electrical interconnector (GSI) is also delayed. This project will improve energy links in the region. However, there are disagreements that stop its progress.
Despite these delays, there is good news. Cyprus is finding more offshore gas. The "Kronos" and "Aphrodite" gas fields are moving forward. They plan to produce and export gas. The decision for "Kronos" is expected in April. Its plan depends on exporting gas through Egypt. A dispute between Cyprus and Israel about "Aphrodite" should end in March. This will help its development.
However, Cypriot gas will likely not reach world markets before 2030. These delays cost the EAC a lot of money. They expect a big cash shortage. The government says it will finish these projects. But legal issues and global problems mean Cyprus's energy future will be difficult.