Eight companies show interest in completing Vasiliko terminal — Cyprus Mail
In Cyprus, eight companies have expressed interest in a new tender to complete the gas terminal project in Vasiliko. George Pistentis, head of the state gas company Defa, said that problems that arose during the previous attempt to implement the project were taken into account when preparing the tender, Cyprus Mail reports.
According to Pistentis, criteria for the second stage of the procedure are being prepared after the application deadline. Participants will be assessed on technical and financial indicators, including the companies’ competence, experience and financial capacity. Defa plans to complete the pre-selection by the end of the year in order to determine the project contractor by next summer.
Tender participants
Greek companies Avax SA and Terna SA, Egypt’s state-owned Petrojet, China’s state-owned China Harbour Engineering Company, Norway’s Econnect Energy, Italy’s Saipem SpA, Israel’s Baran International and Cyprus-based Archirodon have expressed interest in the project.
Another Cypriot company, Cyfield, is in talks with China Harbour Engineering Company about joining its bid, according to the publication. Pistentis said that the assessment began immediately after the application period ended. He noted that among those interested are companies capable of carrying out the project, and that Defa is satisfied with the level of interest.
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Cost and previous contract
Cyprus Energy Minister Michael Damianos previously estimated the cost of completing the work at about €180 million. According to him, it may take two years to complete the project.
Efforts to implement the Vasiliko terminal project have been stalled for more than two years. In July 2024, the CPP-Metron consortium, which included China Petroleum Pipeline Engineering Co and Metron Energy Applications SA, terminated its contract with the government of Cyprus. The consortium claimed that the gas infrastructure company Etyfa had put pressure on it and failed to ensure proper and timely payments.
The floating storage and regasification unit intended for Cyprus remains in Malaysia without certification. In the same month, the European Commission demanded that the Republic of Cyprus return nearly €69 million in grant funds allocated for the terminal under the Cyprus Gas 2 EU project. The European Public Prosecutor’s Office also announced the opening of an investigation into possible procurement fraud, illegal use of EU funds and corruption related to the terminal.
