Cyprus to ink FSRU deal in October

Cyprus to ink FSRU deal in OctoberIllustration purposes only (Image courtesy of Höegh LNG)

Cyprus could finally award the contract for the construction of the FSRU infrastructure as it plans to close its several times extended tender in July. 

A source at Cyprus’ Natural Gas Public Company (DEFA) told Platts that a contract for the installation of floating storage and regasification unit as well as the accompanying infrastructure is set for October.

Following the completion of a feasibility study in 2016, the Government of Cyprus decided to proceed with the development of a liquefied natural gas terminal in Vasilikos Bay, near Limassol.

The government launched a tender in last year calling for the construction of the €500 ($565.7 million) facility by November 30, 2020.

The source said the Cyprus government has launched a new expression of interest which revolves around the liquefied natural gas sale and purchase deal with a 3-5 year term, with the second part focusing on MSA suppliers.

DEFA is expected to agree 15 to 20 MSAs for the procurement of cargoes from the LNG spot market.

 

LNG World News Staff

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Posted on June 10, 2019 with tags .

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