Energy Minister George Papanastasiou announced on Sunday that “there is light on the horizon” for the construction of the liquefied natural gas (LNG) terminal in Vasiliko. Following a church service, Papanastasiou shared insights from his recent interactions with the Chinese ambassador and the two companies involved: Cyprus’ natural gas infrastructure company (Etyfa) and the Chinese state-owned company CPP Metron (CMC).
Diplomatic and Technical Consultations
When asked about the latest developments regarding the terminal at Vasiliko, Papanastasiou emphasized that consultations are ongoing at various levels, both diplomatic and technical. “We, as the Republic of Cyprus, are trying to facilitate this dialogue at a technical level between the two companies. We are committed to implementing the Vasiliko terminal because it is essential for our nation,” he stated.
The significance of the Vasiliko LNG terminal lies in its potential to be the first gateway for importing natural gas into Cyprus, which would subsequently reduce electricity costs. This project is seen as a pivotal step towards energy independence and economic efficiency for the island nation.
Timetable and Ongoing Efforts
Regarding the project’s timeline, Papanastasiou mentioned that an internal timetable has been set, aiming for a decision by June. However, he noted that these timelines are heavily dependent on the cooperation of all parties involved.
On Saturday, President Nikos Christodoulides addressed rumors of a potential “velvet divorce” with CPP over the Vasiliko LNG terminal. “Efforts continue,” he assured reporters, dismissing claims of any separation. Christodoulides clarified that there are three critical components under consideration: the ship, the terminal, and the floating storage and regasification unit (FSRU).
The President’s remarks were in response to an article in
As Cyprus navigates these complex negotiations, the nation remains hopeful that the construction of the Vasiliko LNG terminal will soon become a reality, marking a significant milestone in its energy strategy.
