New setback for plans to import gas - CYPRUS MAIL

November 1, 2019

George Psyllides

The island’s effort to import natural gas to power its electricity grid looked set to delay further on Friday after complications emerged in the tender process for the construction of an LNG import terminal at Vassilikos

The latest obstacle to the effort spanning some 14 years concerns an appeal lodged by a company against a decision to exclude it from the project because of links to an entity implicated in a waste treatment scandal.

Aktor SA is part of a consortium comprising China Petroleum Pipeline Engineering Co Ltd (CPPE), Aktor SA and Metron SA, Hudong-Zhonghua Shipbuilding Co. Ltd and Wilhelmsen Ship Management Ltd that won the tender for the construction of a floating storage regasification unit (FSRU), a jetty for the mooring of the FSRU, pipelines, port and other facilities.

Cyprus runs the risk of being trapped into an expensive undertaking with gas deal - CYPRUS MAIL

September 1, 2019

Charles Ellinas

Gas alone will not reduce carbon emissions to the levels required by the EU. This would require a substantial increase in the share of renewables and biofuels in Cyprus energy mix

DEFA announced on 23 August its decision to award the tender for the construction of an LNG import terminal at Vasilikos. This will comprise a floating storage regasification unit (FSRU), a jetty for the mooring of the FSRU, pipelines, port and other facilities.

The winner is a consortium comprising China Petroleum Pipeline Engineering Co Ltd (CPPE), Aktor SA and Metron SA, Hudong-Zhonghua Shipbuilding Co. Ltd and Wilhelmsen Ship Management Ltd.

Announcing its decision DEFA said “we believe that the future of the country is aligned with natural gas and we expect it to play a major role in the economic development of the country in years to come.

“The establishment of the natural gas market will boost the development of the whole energy and industry sectors of the Republic.”

TAP gas pipeline to go ahead despite low oil prices - executive - REUTERS

Tue Mar 22, 2016

Construction of the Trans-Adriatic Pipeline (TAP) to take gas from Azerbaijan to Europe will go ahead despite low oil prices, but costs will be in sharp focus, a senior executive for TAP said on Tuesday.

The 870-km (540-mile) pipeline, which will link Azerbaijan's Shah Deniz II field with Italy, crossing through Georgia, Turkey, Greece, Albania and the Adriatic Sea, is the largest project to bring new supplies to European consumers.

Asked about the impact of plunging oil prices on the project, TAP's country manager for Greece, Rikard Scoufias, told an energy conference in Athens: "The project will not have an impact in terms of challenging the realisation of TAP in any way."

"The financial investment decision has already been taken," he said. "But it does put an additional emphasis on cost management."