ATHENS, Greece (AP) — The future of an ambitious electricity cable linking the power grids of Greece, Cyprus and Israel by the end of the decade is on track despite a series of setbacks, Greece’s Foreign Minister Giorgos Gerapetritis said Thursday.

“The Great Sea Interconnector will be completed as planned. We are taking steps to ensure there are no obstacles to its progress,” Gerapetritis said after a meeting in Athens with his Israeli and Cypriot counterparts, Gideon Saar and Constantinos Kombos.

The 1.9-billion-euro ($2.06 billion) project, backed by European Union funding, aims to link the power grids of the three Mediterranean nations through a submarine power cable. It would span some 1,210 kilometers (750 miles) and reach depths of 3,000 meters (9,800 feet) below sea level.

Despite its strategic importance, the project has encountered significant challenges, including financial disagreements and has also been complicated by ongoing maritime boundary disputes between Greece and Turkey.

The interconnector is aimed at enhancing energy security, supporting the integration of renewable energy sources, and reducing reliance on fossil fuels.

“We recognize that interconnection projects are of critical importance for stability, energy security, and regional security,” Gerapetritis added. “Not just for our region, but for Europe as a whole.”