The LNG terminal in Cyprus is on track to be operational by the end of the year, with construction progress at the Vasiliko site involving China Petroleum Pipeline Engineering Co Ltd. The project aims to diversify Cyprus’s energy sources and enhance energy security, marking a significant milestone in the close energy cooperation between China and Cyprus.
When will the LNG terminal in Cyprus be operational?
The LNG terminal in Cyprus is expected to be operational by the end of the year. Construction has resumed at the Vasiliko site with China Petroleum Pipeline Engineering Co Ltd involved. The project will diversify Cyprus’s energy sources and enhance energy security.
LNG Terminal Developments
The anticipated liquefied natural gas (LNG) terminal in Cyprus, which has faced delays and complications, is now progressing well and is expected to be operational by the year’s end. The announcement was made by China’s ambassador to Cyprus, Liu Yantao, during a recent event in the capital city of Nicosia. The development of this terminal is a significant step for Cyprus, aiming to diversify its energy sources and increase energy security.
Work at the Vasiliko site is intricate, involving various stakeholders and advanced engineering techniques. After a brief halt due to disputes, construction has recommenced with vigor. The ambassador highlighted the bright prospects ahead, noting that the project presents multiple opportunities for economic and energy development in the region.
China-Cyprus Energy Cooperation
The collaboration on the LNG terminal illustrates the close relationship between Cyprus and China, particularly in the energy sector. A key element of this cooperation is the construction work carried out by the CPP-Metron Consortium (CPC), which boasts China Petroleum Pipeline Engineering Co Ltd as a major partner. This state-owned enterprise has a notable track record in constructing complex energy infrastructure worldwide.
Despite the recent halt in construction due to a legal dispute, which led to a claim being filed at the London court of arbitration, the parties have since reconciled, and work has resumed. The ambassador, speaking through an interpreter, expressed confidence in the project’s timely completion, provided that all involved parties continue to collaborate effectively.
Infrastructure and Benefits
The ambassador shared that the floating, storage, and regasification unit (FSRU), a pivotal component of the LNG terminal, is nearing completion in Shanghai, with more than 99 percent of the construction work finished. This vessel is set to be delivered to Cyprus within the next few months, further solidifying the timeline for the terminal’s completion.
As for the on-land infrastructure at Vasiliko, the construction is reportedly halfway to completion, with additional Chinese workers expected to join the project soon. This inflow of expertise will accelerate progress and help overcome any outstanding challenges.
The successful completion of the LNG terminal is not only a strategic achievement for Cyprus but also a testament to the win-win partnership between Cyprus and China. The project is poised to lower electricity generation costs for the Cypriot population and foster a stronger bilateral relationship, further demonstrating the ambassador’s positive outlook on this international collaboration.
When will the LNG terminal in Cyprus be operational?
The LNG terminal in Cyprus is expected to be operational by the end of the year. Construction has resumed at the Vasiliko site with China Petroleum Pipeline Engineering Co Ltd involved. The project will diversify Cyprus’s energy sources and enhance energy security.
What are the recent developments regarding the LNG terminal in Cyprus?
The LNG terminal in Cyprus, which has faced delays and complications, is now progressing well and is expected to be operational by the year’s end. Construction work has resumed at the Vasiliko site with various stakeholders involved. The project aims to diversify Cyprus’s energy sources and increase energy security.
How is the energy cooperation between China and Cyprus reflected in this project?
The collaboration on the LNG terminal showcases the close relationship between Cyprus and China, especially in the energy sector. Construction is being carried out by the CPP-Metron Consortium, which includes China Petroleum Pipeline Engineering Co Ltd. Despite recent disputes, work has resumed, emphasizing the strong partnership between the two countries.
What are the infrastructure and benefits associated with the LNG terminal project in Cyprus?
The floating, storage, and regasification unit (FSRU) for the LNG terminal is nearly complete in Shanghai and will be delivered to Cyprus soon. The on-land infrastructure at Vasiliko is halfway done, with more Chinese workers expected to join the project. The completion of the terminal is expected to lower electricity generation costs for Cyprus and strengthen the relationship between Cyprus and China.
