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China-led Consortium Is Leading Bidder For Cyprus LNG Terminal

China-led consortium is leading bidder for Cyprus LNG terminal

China-led Consortium Is Leading Bidder For Cyprus LNG TerminalSource: PortSEurope

Limassol, Cyprus (PortSEurope) August 25, 2019 – 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.

It is expected that the successful tenderer will be invited to Nicosia for the finalisation of the process and the signing of the contracts with ETYFA (Natural Gas Infrastructure Company).

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. The LNG Terminal will be completed in 2021 and has secured part of the required funding of the CAPEX, as a grant from the EU under the Connecting Europe Facility (CEF) financial instrument. It will be located near Vassiliko Port in Cyprus.

“The successful result of the competitive process for the implementation of the infrastructure in order to import natural gas in Cyprus, as well as the great interest shown for this important energy Cyprus project by European and international players of the gas market, is just the first milestone for the realisation of a long-term project that is directly linked to the country’s energy upgrade and energy pluralism in Cyprus”, said Dr. Symeon Kassianides, Chairman of DEFA.

As part of efforts to secure an uninterrupted supply of natural gas, initially for power generation and then for other uses, 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 three pipelines that will supply the three 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 about 80km. The initial cost estimate for this phase of the project is approximately €60 million. The project has already secured sponsorship of €10m by EU funds. (Program EEPR).

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