Cyfield joins Chinese firm in bid to complete Vasiliko LNG terminal

Cyfield is in talks to partner with Chinese state-owned contractor China Harbour to complete the stalled liquefied natural gas terminal at Vasiliko, as six companies have expressed interest in taking over the project, Phileleftheros reported on Friday. The newspaper reported that China Harbour was among the companies that submitted expressions of interest before the noon deadline set by the natural gas infrastructure company (Etyfa), with the Italian energy contractor Saipem also reportedly among the interested companies. Three major Greek contractors, Terna, Avax and Archirodon, have expressed interest, alongside Norwegian energy specialist ECOnnect Energy, according to Phileleftheros. Energy Minister Michael Damianos informed that the number of interested companies and joint ventures would be confirmed on Monday. Related Articles • Deadline passes for expressions of interest in Vasiliko LNG project • MPs see Vasiliko problems ‘with own eyes’ • Cyprus gas could fuel Egypt’s LNG comeback • Larnaca, Vasiliko and Latchi port plans on the table • EAC rejects claims it is blocking rival power plant • Plans to boost safety at Vasiliko presented The cost of completing the terminal is estimated at around €180 million, with the work expected to take two years. Etyfa will assess the initial submissions before deciding which companies or consortia will be invited to submit full offers. Technip Energies is advising the state-owned company on the process. Construction stalled in July 2024, when the government terminated its contract with the CPP-Metron Consortium, formed by China Petroleum Pipeline Engineering Co and Greece’s Metron Energy Applications. The consortium accused Etyfa of “bullying” and complained of years without proper or timely payments. The floating storage unit ‘Prometheus’, intended for use at the terminal, remains in Malaysia without certification. The project has also faced scrutiny over EU funding, for in July 2024, the European Commission demanded the repayment of almost €69 million in grants, citing alleged irregularities in the tender evaluation and a subsequent funding agreement. The European Public Prosecutor’s Office separately announced an investigation into possible procurement fraud, misappropriation of EU funds and corruption.