Construction of Cyprus’ first LNG terminal is a step closer after the government reached an agreement with the Chinese consortium that will carry out the project.
The agreement follows negotiations between the Natural Gas Infrastructure Company, the Natural Gas Public Company and the joint venture between China Petroleum Pipeline Engineering Company and Metron. Hudong-Zhonghua Shipbuilding and Wilhelmsen Ship Management will also be involved in the joint venture.
The project at Vassiliko is due to start operations in 2021 and it will supply the market with LNG for electricity.
The LNG tanker carrier Galea will be used as the FSRU, with the cost for the installation and deployment of the floating unit estimated at €260 million.