LNG

European Commission offers grant for Cypriot FSRU

Cyprus has won funding to buy an FSRU via the EU’s Connecting Europe Facility Cyprus has won funding to buy an FSRU via the EU’s Connecting Europe Facility.
By Verity Ratcliffe 23 January 2018 0 29217
The FSRU will be installed near the Vassiliko power station. (J&P Group)

The European Commission’s decision to partially fund an FSRU off the coast of Cyprus will allow the project to move forward and could see LNG imports start by 2020, even if the grant is lower than Nicosia requested. 

Brussels has given preliminary approval to grant Cyprus €101 million ($88.7 million) to finance the purchase of an FSRU to be moored at Vassiliko, Cypriot Minister of Energy Yiorgos Lakkotrypis confirmed after a cabinet meeting last week. 

That figure is expected to cover 40% of the capital cost...