Cyprus Mail

President to lay foundation stone of gas terminal

The gas terminal will be built at Vasilikos

President Nicos Anastasiades on Thursday will set the foundation stone of the liquified natural gas terminal at Vasilikos, billed the biggest ever strategic energy project in the Republic.

The LNG terminal to be completed in about two years, will include a floating storage and regasification unit (FSRU), a jetty for mooring the FSRU, a jetty-borne gas pipeline and related infrastructure.

It will be used to import gas for power generation.

The project will be constructed by a multinational consortium led by China Petroleum Pipeline Engineering. It also includes Greece’s Metron, Hudong-Zhonghua Shipbuilding, China, and Norwegian Wilhelmsen Ship Management.

It is expected to cost around €289 million. Part of the cost, €101m, will be covered by the European Union while an additional €150m has been borrowed from the European Investment Bank. The electricity company, EAC, will contribute €43m.

A separate tender has been launched for the supply of the gas.



Related Posts

Sonica introduces itself with concerts around the island

Eleni Philippou

Government ups value of grants for photovoltaics, insulation

Anna Savva

Cypriots receive training at first European coding challenge

Gina Agapiou

Alleged members of army exemption ring under police investigation

Criminalisation of conversion therapy under microscope at House

Sarah Ktisti

Girl reports she was sexually harassed while in school (updated)

Gina Agapiou