Klaipedos Nafta submits bid to operate Cyprus LNG terminal

Image courtesy of Klaipedos Nafta

Lithuanian liquefied natural gas terminal operator Klaipedos Nafta (KN) has submitted a tender bid for the design, construction, and operation of the Cyprus LNG import terminal.

If successful, KN will provide long-term operation and maintenance services for the terminal.

Tadas Matulionis, KN’s LNG business development director, said: “Within the European Union Klaipėda LNG terminal is the most recent FSRU project, meeting high quality and efficiency standards.

If selected, KN would become the largest operator of floating LNG terminals in Europe.

DEFA, the natural gas public company of Cyprus, floated an international public call for tenders for development of an LNG terminal in Vasilikos Bay in October 2018 and extended the deadline in January this year.

According to specifications, the LNG terminal will include a floating storage and regasification unit (FSRU), a jetty for mooring the FSRU, a jetty borne gas pipeline and related infrastructure to secure supply of natural gas to the largest Vasilikos Power Plant in Cyprus.

After the project is completed, Cyprus electricity system will shift to gas-fired power generation which will not only secure a reliable supply of cleaner fuel for power generation but also help the country to comply with the EU environmental requirements.

The project has been granted EU support accounting for over EUR 100 million ($111.4 million at current rates). The total project budget is estimated at around EUR 500 million ($556.8 million).

The company added that it was acting as major subcontractors together with two other European subcontractors to support and contribute to the strength of the consortium consisting of Samsung, Posco, Mitsui O.S.K. Lines, and Osaka Gas.

If the tender goes through, KN will team up with Mitsui O.S.K. Lines and Osaka Gas to operate and maintain the floating terminal for a period of up to 20 years.

KN said that DEFA was scheduled to select winners of the tender later this year. The terminal in Cyprus is planned to start operations in 2021.

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