Cyprus gas project going full steam ahead - KATHIMERINI

13.01.2022 • 23:06

Work on the ETYFA Flagship project, which will supply clean natural gas to Vassilikos Power Station in Cyprus, is continuing unabated despite the Covid-19 pandemic.

Two vital components that have to be installed on the liquefied natural gas (LNG) carrier ETYFA Prometheas are the regasification (Regas) module and the power module.

The Regas module is responsible for converting the liquefied natural gas to a gaseous form and deliver this to Vassilikos Power Station in order to power the combined cycle turbines which generate electricity for the Republic of Cyprus. The Regas module is being installed on the bow of the ship.

EBRD supports decarbonisation of energy sector in Cyprus - EBRD

31 Jul 2020

Olga Aristeidou

• EBRD loan of €80 million, alongside EU and EIB financing, for floating storage and regasification unit in Cyprus
• Natural gas introduced to Cyprus, reducing dependence on oil
• Substantial reduction expected in local emissions of CO2 and air pollutants

The population of Cyprus will benefit from cleaner air and reduced energy costs thanks to the introduction of natural gas to the country, with a project jointly financed by the European Bank for Reconstruction and Development (EBRD), the European Investment Bank (EIB) and the European Union (EU).

The EBRD is providing a €80 million loan to the Natural Gas Infrastructure Company of Cyprus (ETYFA) for the acquisition of a floating storage and regasification unit (FSRU) and the development of related infrastructure. The FSRU will be permanently anchored about 1.3 km off the coast of Limassol in Vasilikos Bay and will connect directly to the adjacent Vasilikos power station, the largest power plant in Cyprus.

Cyprus enters LNG era with FSRU groundbreaking at Vassilikos - PLATTS

10 Jul 2020 | 12:00 UTC Nicosia

Gary Lakes, Editor: Alisdair Bowles

• LNG import terminal to be operational by end-2022
• Terminal to end Cyprus' energy isolation: President
• Chinese-led project backed by European Commission

Nicosia — Cypriot officials hailed the start of a new energy era for the island on July 9 with a groundbreaking ceremony marking the start of construction for a floating storage and regasification unit (FSRU) terminal at Vassilikos.

A terminal and an FRSU, supplied by a Chinese-led consortium, are to be in place and operating by the end of 2022, enabling Cyprus to end its reliance on oil imports to fuel its main power generation plant at Vassilikos, where trading giant VTTI also operates a fuel storage and transshipment center.

Cyprus’ Natural Gas Infrastructure Company secures €80 million financing by EBRD - IN-CYPRUS / CYPRUS NEWS AGENCY

26.JUNE.2020

European Bank for Reconstruction and Development (EBRD) gave the green light for 80 million euros funding to the Natural Gas Infrastructure Company of Cyprus (ETYFA). The Loan Facility will be covering the construction of the Liquefied Natural Gas (LNG) Import Terminal in Cyprus. The financing is of a 20-year duration.

According to an ETYFA’s press release, funding is additional to ETYFA’s already approved financing by the European Investment Bank (EIB). EIB has approved a 150-million-euro funding to ETYFA on June 11th. The total capital expenditure budget of the project is 289 million euros, while ETYFA has already secured a 101 million euros subsidy by the European Commission, through “Connecting Europe Facility” (CEF) and 43 million euros, from the participation of the Electricity Authority of Cyprus (EAC) in the shareholding structure of ETYFA.

“Both the decision made by EIB, and the decision by EBRD highlight once again the trust of the European institutions towards ETYFA and energy authorities in Cyprus”, the press release points out.

The project is considered of major importance for the energy future of Cyprus.

EIB approves €150 million for LNG project in Cyprus - CYPRUS NEWS AGENCY (CNA)

CNA - Cyprus/NICOSIA 11/06/2020 20:31

European Investment Bank’s (EIB) Board of Directors has approved the amount of €150 million to fund the construction of a project which will allow the import of liquefied natural gas (LNG) in Cyprus, Natural Gas Public Company (DEFA) announced on Thursday.

In a press release DEFA says that the project will be implemented by Natural Gas Infrastructure Company of Cyprus (ETYFA).

In particular, the loan is of a duration of 20 years with a favourably low rate and will cover capital construction expenditure, the press release adds.

Hoegh LNG wants to install Cyprus FSRU - FINANCIAL MIRROR

24th April 2020
Charlie Charalambous

Norway’s Hoegh LNG on Friday confirmed that it has officially applied to Nicosia for a liquefied natural gas infrastructure ownership, operations, and development license in Cyprus.

In a statement, Hoegh LNG said it sent letters to President Nicos Anastasiades, and the Ministers of Energy and Finance, in which the “advantages and benefits of its proposal for the installation of an FSRU in Cyprus, and more specifically at Vasiliko, were presented”.

“The purpose of the letters was for the President and the two Ministers to be informed about Hoegh LNG’s proposal, the application for licensing which was officially submitted to Cyprus Energy Regulatory Authority (CERA), being the competent authority,” said the statement.

Deal to develop LNG infrastructure and supply in Cyprus reached - CYPRUS MAIL

December 3, 20196Jonathan Shkurko

An agreement to sign a contract on developing the necessary infrastructure and the supply of liquified natural gas (LNG) in Cyprus has been finalised.

The goal is to be able to use LNG in the market for electricity purposes by the end of 2021.

The deal follows lengthy negotiations between the Natural Gas Infrastructure Company (Etyfa), the Natural Gas Public Company (Defa) and the joint venture JV China Petroleum Pipeline Engineering Co Ltd and Metron SA, which will carry out the project.

The government gave the go-ahead to finalise the deal on November 22 during a meeting at the Presidential Palace in which President Anastasiades made it clear that Defa must go ahead with the procedures for the provision of natural gas in Cyprus.

The final process of examining and signing the complex agreement will take place this week.

Cyprus aims to sign contract on natural gas infrastructure and supply in 2019 - IN-CYPRUS / CNA

November 27, 2019 at 7:46am
Edited by Bouli Hadjioannou

The government’s aim is to finalise and sign a contract on developing the necessary infrastructure and the supply of natural gas in the Cypriot market within 2019 Energy Minister Yiorgos Lakkotrypis has said.

Lakkotrypis was speaking during an event held to present the annual report for 2018 of the Electricity Authority of Cyprus.

He said the aim is to complete the development project for the necessary infrastructure and the natural gas provision process in the Cypriot market for the electricity production purposes by the end of 2021.

According to Lakkotrypis, the Natural Gas Infrastructure Company (ETYFA) is now in consultations with the first tenderer who is first in line, aiming to finalise the contract and sign it within 2019. Referring to the project he added that it is expected to be completed within 24 months. EAC has a 30% shareholding in ETYFA.

The government is badly mishandling our gas imports - CYPRUS MAIL

June 2, 2019

Charles Ellinas

By not considering other import options the government is condemning us to even higher electricity prices

The planned import of liquefied natural gas (LNG) to Cyprus is about to enter a new and worrying dimension which could stifle competition and likely lead to high gas prices and more expensive electricity than ever before.

During a public consultation organised by Cyprus Energy Regulatory Authority (Cera) between April 12 and May 13 regarding its draft ‘Statement of Regulatory Practice and Methodology of Natural Gas Tariffs’ it emerged that the government intends to declare the natural gas market in Cyprus as an emerging market for 10 years, giving monopoly rights to natural gas public company (Defa) and its subsidiary Etyfa, the Natural Gas Infrastructure Company – set up with 30 per cent participation by the EAC to manage the LNG reception, storage and regasification facilities. This is based on a view expressed by the Council of Ministers in 2007 that, under certain conditions, and taking advantage of EU regulations, it was then the government’s intention to declare the gas market in Cyprus as isolated and emerging.

Two companies responded to the consultation call: Greek company Energean and PEC Powerenergy Cyprus. The latter is in the process of building the first private gas-fired power generation plant in Cyprus. Not surprisingly both tabled multiple objections to the government’s intentions.

The fact that only two companies saw the need to take part in this consultation is by itself of concern. There could be many reasons for this lack of interest: lack of understanding, indifference and possibly a belief that the consultation is just a paper exercise that will not alter decisions already made. Whatever the reasons, it does not bode well. The end result could be higher energy costs for the already heavily burdened Cypriot consumer.

ENERGY: Energean calls out Cyprus on its gas supply policy - FINANCIAL MIRROR

13 October, 2018

Greek oil and gas firm Energean has upped the ante by saying it can deliver more competitive gas prices to Cyprus than the tender procedure Nicosia is going through.

“Energean has submitted a proposal to the Cypriot Government to supply natural gas to the country in the 1st quarter of 2021 at no upfront cost to the Cypriot citizens at a very competitive gas price,” the company said in a statement.

“Energean always respects the rules and regulations of every country it operates in and has obviously confirmed its option to supply natural Gas to Cyprus in accordance with the proposal made,” it added.

According to sources, Energean is unhappy that it is excluded from a tender to supply Cyprus with gas because the bids relate to LNG infrastructure only.

Those same sources argue that the project will be much more expensive compared to gas supplied through a pipeline.

DEFA issues tender for construction of LNG import terminal - HYDROCARBON ENGINEERING

09 October 2018

The state natural gas company of Cyprus, DEFA, has issued a tender for the development of a facility for the import, storage and regasification of LNG at Vasilikos Bay near Lemesos.

The tender was made on behalf of the Natural Gas Infrastructure Co. Ltd (ETYFA).

Following the completion of a feasibility study in 2016, the government of Cyprus decided to proceed with the development.

The government requires the completion of the new LNG import terminal by 30 November 2020.

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 has secured a funding of 40% of the CAPEX, up to €101 million, as a grant from the EU under the Connecting Europe Facility (CEF) financial instruments.