China-Led Consortium Chosen to Build LNG Terminal in Cyprus
- Business & Finance
A consortium led by China Petroleum Pipeline Engineering Corporation (CPPEC) has been selected as the preferred bidder for the construction of an LNG terminal at Vassiliko Port in Cyprus.
The consortium, comprising Wilhelmsen Ship Management Limited, Aktor S.A., Metron S.A. and Hudong-Zhonghua Shipbuilding, is to build the LNG import terminal that includes a floating storage regasification unit (FSRU), a jetty for the mooring of the FSRU, jetty borne and onshore pipelines as well as additional facilities.
The consortium will now be invited in Cyprus, in order to finalize the process and sign the contracts with ETYFA (Natural Gas Infrastructure Company).
Symeon Kassianides, Chairman of Cyprus Natural Gas Public Company (DEFA), was cited as saying that, if the procedure goes according to plan, contracts with the preferred bidder would be signed in mid-October 2019.
The EUR 300 million project, scheduled for completion in 2021, is co-financed by a grant of 40%, or up to EUR 101 million, from the European Union’s Connecting Europe Facility (CEF) financing instrument.
World Maritime News Staff