Cyprus Mail

Energy company confirms it has proposed installation of an FRSU in Cyprus

Norwegian company Hoegh LNG has confirmed that it has submitted a proposal for the installation of a Floating Storage Regasification Unit (FRSU) in Cyprus.

The company said on Friday it sent letters to President Nicos Anastasiades, and the ministers of energy and finance, in which the “advantages and benefits of its proposal for the installation of an FSRU in Cyprus, and more specifically at Vasiliko, were presented”.

“Hoegh LNG confirms that the company sent letters to the President of the Republic, the minister of energy, commerce and industry and the minister of finance, in which the advantages and benefits of its proposal for the installation of an FSRU in Cyprus, and more specifically at Vasilikos, are presented,” the statement said.

Hoegh LNG added that the purpose of the letters was to inform the government about the proposal, which was officially submitted to the Cyprus Energy Regulatory Authority (Cera), which refused to comment due to the fact that the application was being currently reviewed.

The proposal involves the installation of an FSRU at Vasiliko within the first quarter of 2021 and a pipeline to transport the gas to the EAC’s power plant and potentially other users.

“This solution can serve as interim, until the state-owned LNG infrastructure is in place at Vasiliko,” Hoegh LNG’s statement added.

The company specified that the plan would not in any way interfere with other government plans, which will be reportedly save in excess of €100m per year from 2021, “by switching power generation to burning natural gas from heavy fuel oil.”

Finally, Hoegh LNG assured that the proposal “will require no state aid or investment and the company is open to working closely with the Natural Gas Public Company (Defa), for delivering this important infrastructure project to Cyprus.”

Related Posts

Technology can fuel growth and create jobs in Cyprus

Kyriacos Nicolaou

Cyprus to assume gas forum presidency

Kyriacos Nicolaou

Cyprus Business Now

Kyriacos Nicolaou

COP26 and climate change: green transition will require more commitments

CM Guest Columnist

Payments into BoC accounts blocked from popular money transfer company Wise

Kyriacos Nicolaou

Shortages cast shadow over Britain’s Black Friday

Reuters News Service