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energy negotiations

Critical Negotiations for Vasiliko LNG Terminal Project

Negotiations for Cyprus’s Vasiliko LNG terminal project are crucial, with the Energy Minister meeting the CPPMetron Consortium to discuss the project’s future. The government is firm on either proceeding with the current contractor or exploring alternatives, citing financial constraints and the need for completion to enhance energy diversification in Cyprus.

natural gas electricity prices

How Natural Gas Could Reduce Electricity Prices

Switching to natural gas could save Cyprus €400 million annually, reducing electricity costs by 3540%. European gas prices have dropped, but Cyprus’s delays in leveraging LNG imports have hindered potential savings, highlighting the need for resolving issues with the Vasilikos facility to secure a stable supply and transition to natural gas.

lng cyprus

Talks over LNG Spat Have ‘Gotten Nowhere’

Negotiations over the LNG terminal in Cyprus have hit a deadlock, with construction halted and a legal dispute looming. The government is open to abandoning the deal with the current consortium to ensure the completion of the crucial Vasiliko LNG terminal, which promises economic benefits and environmental improvements.

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