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Editor in chief: Angelo Scorza
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02/09/19 12:12

China will lead the building of the new Cyprus LNG import terminal

A multinational consortium of China Petroleum Pipeline Engineering Co Ltd, Aktor S.A. and Metron S.A., Hudong-Zhonghua Shipbuilding Co. Ltd and Wilhelmsen Ship Management Limited is the preferred bidder for the facility, to be completed in 2021 near Vassiliko Port

A multinational consortium of China Petroleum Pipeline Engineering Co Ltd, Aktor S.A. and Metron S.A., Hudong-Zhonghua Shipbuilding Co. Ltd and Wilhelmsen Ship Management Limited is the preferred bidder for a contract to construct an liquified natural gas (LNG) terminal, out of three international bidders, based on qualitative, quantitative and financial criteria.

Runners up were a South Korea-Japan pool made of Samsung C&T, Posco, Mitsui OSK Lines and Osaka Gas and a European pool made of Damco Energy, Enagas Services Solutions, GasLog LNG Services, Snam Spa and Terna.

The winner will go Nicosia for signing the contracts with Natural Gas Infrastructure Company (ETYFA). The facility secured part of the required funding of the CAPEX as a grant from the EU under the Connecting Europe Facility (CEF) financial instrument, with €10 million.

The global estimated cost is €500 million, while the EU support will be €116 million.

The LNG Terminal will include a floating storage and regasification unit (FSRU), a jetty for mooring the FSRU, a jetty borne gas pipeline and related infrastructure, and will be completed in 2021 near Vassiliko Port.

As part of efforts to secure an uninterrupted supply of natural gas, initially for power generation and then for other uses, Natural Gas Public Company DEFA has planned and launched the work for the construction and development of the necessary for this purpose, Transmission and Distribution Natural Gas Pipeline Network. Initially, this network will consist of 3 pipelines that will supply the 3 power plants of the Electricity Authority of Cyprus (EAC) in Vasilikos, Dhekelia and Moni.

This first network serves as the backbone for the development of future network in the cities and industries and is estimated to have a total length of 80km. The initial cost estimate for this phase is €60 million.

 

Angelo Scorza

TAG : Gas
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