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Project Insights

Cyprus secures interest in FSRU, but delays likely

Cyprus’s plans to import LNG look likely to slide into the early 2020s, even though three consortiums have submitted bids to develop and install an FSRU at Vassiliko Cyprus’s plans to import LNG look likely to slide into the early 2020s, even though three consortiums have submitted bids to develop and install an FSRU at Vassiliko.
By Anna Gumbau 25 July 2019 Middle East & Africa / LNG 0 34431
The Vassiliko power station in Cyprus. (J&P Group)

The key issue: Cyprus has received bids from three different consortiums to install an FSRU at the port of Vassiliko.

Interfax analysis: Cyprus’s troubled tendering process to develop, install and operate an FSRU at Vassiliko has finally yielded results after three deadline extensions. 

The three bids, which were unveiled by DEFA – Cyprus’s national gas company – on 12 July, came from a European consortium of Damco, Enagas, GasLog LNG, Snam and Terna; a joint venture between China Petroleum Pipeline Engineering and Greek contractors Aktor and Metron; and...