Energy Minister Michael Damianos emphasised Cyprus’ readiness to work towards a more substantial EU energy union on Monday, during a meeting with his counterparts on the EU council of energy for the first time since assuming his portfolio.
Speaking in Brussels, Damianos outlined Cyprus’ priorities as the incoming holder of the rotating EU presidency.
He stressed the republic would work “with determination” to strengthen competitiveness, resilience and strategic autonomy in the energy sector, adding, “It is vital to reduce energy prices, as we believe this is a central pillar of competitiveness.”
In this context, he described the EU networks package as “essential and crucial”, stressing that the crisis demonstrated the need for “a more substantial energy union.”
EU energy ministers meeting on Monday are expected to reach a partial agreement on the Connecting Europe Facility programme for the period 2028 to 2034.
The facility forms part of broader negotiations on the new budget beyond 2027.
The Connecting Europe Facility provides the legal basis for EU investment in trans-European transport and energy networks, including renewable energy infrastructure and military projects.
The anticipated agreement excludes financial issues that remain under discussion within the wider budget negotiations for the period.
Alongside the agreement on the facility, ministers will also hold a policy debate on the European networks package.
The package aims to expand European energy networks to ensure the provision of affordable, clean energy for both public and private interests.