- A multinational consortium led by China Petroleum Pipeline Engineering Co Ltd (CPPEC) has been selected to design, construct and operate new LNG import terminal at Cyprus.
- The Chinese-led consortium will finalise the process by signing contracts in Nicosia with the Natural Gas Infrastructure Company of Cyprus.
A multinational consortium led by China Petroleum Pipeline Engineering Co Ltd (CPPEC) has been selected to design, construct and operate new LNG import terminal at Vasilikos Bay near Limassol, reports Riviera Maritime Media.
Leading tenderers among International bidders
The Natural Gas Public Company (DEFA) of Cyprus ranked the joint venture of CPPEC,
Aktor and Metron, Hudong-Zhonghua Shipbuilding Co and Wilhelmsen Ship Management as the leading tenderer among three international bidders based on qualitative, quantitative and financial criteria.
Contract with Natural Gas Infrastructure Company
The Chinese-led consortium will finalise the process by signing contracts in Nicosia with the Natural Gas Infrastructure Company of Cyprus.
The Chinese consortium beat a South Korea-Japan joint venture of Samsung C&T, Posco, Mitsui OSK Lines and Osaka Gas and a European team of Damco Energy, Enagas Services Solutions, GasLog LNG Services, Snam Spa and Terna.
FRSU
Co-financed by a grant from the EU Connecting Europe Facility financing instrument, the LNG import terminal includes a floating storage regasification unit (FSRU), a jetty for mooring the FSRU, jetty-borne and onshore pipelines and facilities to supply natural gas to the Vasilikos power plant in Cyprus.
Natural Gas decides economic growth
With an estimated cost of €500M (US$555M), the project has won EU support of €116M (US$128M).
DEFA chairman Dr Symeon Kassianides said, “We believe 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 LNG import terminal in Cyprus will be commissioned in 2021.
Did you subscribe to our daily newsletter?
It’s Free! Click here to Subscribe!
Source: Riviera Maritime Media
