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Cyprus prepares for transition to the new energy era

The Natural Gas Public Company of Cyprus (DEFA), announced the successful completion of the first step of the tender procedure, for the Cyprus LNG Import Terminal which involves all the necessary infrastructure of LNG import into Cyprus.

Three international consortia comprising well establishing leaders have submitted proposals.

  1. Joint Venture China Petroleum Pipeline Engineering CO, Ltd – CPP, AKTOR S.A., METRON S.A.
  2. Consortium Samsung C&T, Posco E&C, Mitsui O.S.K. Lines, Osaka Gas
  3. European Consortium (DAMCO Energy S.A., ENAGAS Services Solution S.L.U., GasLog LNG Services Ltd., SNAM Spa, TERNA S.A.)

The companies that submitted an offer cover a very wide geographical range, highlighting the particular importance of the tender at an international level as well as its viability.

"The successful result of the competitive process for the implementation of the infrastructure in order to import natural gas in Cyprus, as well as the great interest shown for this important energy Cyprus project by European and international players of the gas market, is just the first milestone for the realization of a long-term project that is directly linked to the country's energy upgrade and energy pluralism in Cyprus”, said Dr. Symeon Kassianides, Chairman of DEFA.

After the remarkable and powerful entries recorded in the contest, the great challenge for all parties involved, is to complete the evaluation process and start the work for the immediate implementation of the project. The primary objective of DEFA is to lay the foundations for a functioning natural gas market in Cyprus that ensures security of reliable gas supply, initially for

power generation and subsequently to industries, hotels, bunkering, transportation and domestic consumers at the lowest possible cost and with minimum environmental impact.

It is reminded that 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. The LNG Terminal will be completed in 2021 and has secured part of the required funding of the CAPEX, as a grant from the EU under the Connecting Europe Facility (CEF) financial instrument.

 


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FEATURED COLUMNS

Editorial Comment: The Future of FLNG: Less is More?
-Adrienne Blume
Global LNG export capacity is expected to increase by 45% between 2017 and 2022, to more than 400 metric MMtpy, with 90% of the new capacity coming from sanctioned projects in the U.S. and Australia. By 2050, this capacity is anticipated to exceed 700 MMtpy. Regasification capacity is anticipated to increase even more sharply.
Executive Viewpoint: Back to production: Where we’re going, we don’t need pipelines
-Mark Casaday
What if a cost-effective way existed to extract and distribute natural gas, regardless of proximity to pipeline, and bring those assets back to production? What if the industry went in a direction that did not need pipelines? For those looking to monetize unproductive natural gas assets or bring unproductive wells back to production, it would be revolutionary.
Regional Focus:Australia to boost LNG exports despite domestic gas shortage
-Eugene Gerden
Australia is planning further increases in LNG production and exports over the next decade, despite quickly depleting reserves and a looming supply shortage in the domestic market.


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