Work starts on Cyprus FSRU mooring jetty

Work has recently begun on the construction of a jetty as part of the Liquefied Natural Gas (LNG) Receiving and Regasification Terminal near the port of Vasilikos in Cyprus. At the same time, the construction of a floating storage and regasification unit (FSRU), which will be moored to the jetty and allow LNG to reach the Cypriot market, is at an advanced stage in Shanghai.

The construction company has submitted a new timetable for the completion of the jetty, until the end of October 2023, according to an update of the project’s progress on Wednesday to the relevant government departments and services.

Representatives of CPP-Metron Consortium Ltd, which represents the contractors of the project in Cyprus, said that after the difficulties and delays caused by the Covid lockdowns both in Cyprus and even more so in China, the schedules have been postponed and the completion of the project is now expected at the end of October 2023 instead of July. At the same time, it was mentioned that the project was also affected by the war in Ukraine; however, now everything is back on track.

The contractor of the project is a consortium comprising the China Petroleum Pipeline Engineering Co Ltd, Metron Energy Applications SA, Hudong-Zhonghua Shipbuilding Co Ltd and Wilhelmsen Ship Management Ltd, which have signed a contract with Cyprus’ Natural Gas Infrastructure Company (ETYFA).

Construction work on the FSRU, the ship ETYFA Prometheas, which is being carried out in Shanghai, is now 90% complete, according to the contractor. The ship will have a dual class, as it will not only be an FSRU but will also be classed as an LNG carrier – a ship capable of international trading.

It was also pointed out that engineers from the project’s lenders have already visited the project three times to assess progress. EU funding of €101 million has been secured for the project through the Connecting Europe Facility (CEF). Additional financing was secured through the participation of the Electricity Authority of Cyprus (43 million euros), while the rest of the money was secured by borrowing from the European Investment Bank (EIB) and the European Bank for Reconstruction and Development (EBRD).

The total cost of the project amounts to approximately €315 million. It is located within the boundaries of the Mari Community in the district of Larnaca.