The energy minister and the natural gas infrastructure company (Etyfa) met on Tuesday to review the state of play with the LNG project at Vasiliko and what the next steps will be.

The discussion also aimed to set a firm, binding timetable for the completion of the project – both as concerns the onshore LNG facilities at Vasiliko, as well as for the floating, storage and regasification unit (Fsru) currently located in Malaysia.

However discussions about firming up the timetable will continue, the Cyprus Mail was told.

Sources confirmed that a number of interested parties have informally expressed interest in making use of the Fsru.

They clarified also that wherever the ship ends up for use – converting LNG back to its gaseous form – will most likely be the same location where it receives official certification as an Fsru.

“It’s like a tradeoff,” explained the sources. “They help Cyprus with certification, and they get to utilise the vessel.”

Another source ruled out the ship getting Fsru certification in Malaysia, as there are no compatible facilities/terminals there. The vessel is undergoing repairs/upgrades in Malaysia.

The Cyprus Mail understands that a number of states and/or companies have shown interest in using the Fsru temporarily, before it finally comes to Cyprus.

The vessel cannot come to Cyprus yet as the onshore LNG terminal at Vasiliko is incomplete. The government says that works on the terminal should be finished by the end of the year. In the meantime, it is keen on not letting the Fsru sit idle.

One of the interested parties is Egas, a state-owned Egyptian company. Another is Abu Dhabi-based Adnoc, also a state-owned corporation. Yet another is Excelerate Energy, a US LNG company with a global presence.

Because the Fsru vessel is a public asset, the government has to go through the process of inviting formal expressions of interest, then selecting the company that gets to use it.

The tender is expected to be issued soon, the Cyprus Mail was told. After that, it should take Etyfa about 20 days to pick the successful bidder.