Cyprus state gas company DEFA said on Monday it has received four proposals to supply natural gas to the island, an interim solution for power generation before its own reserves come on line.
DEFA did not release details of the bidders, saying it was bound by confidentiality agreements. Based on its initial invitation for proposals, issued in January, it was seeking a supply line for up to 10 years, commencing in January 2016.
The state-controlled company said at the time it wanted a comprehensive solution involving all commercial and infrastructure requirements including sourcing, transportation and processing.
It will sell the gas to the Electricity Authority of Cyprus, the now state-controlled monopoly up for privatisation over the next four years. (Reuters)