The LNG terminal project in Vasilikos will be implemented, President says

07:43 - 23 July 2024

Economy Reporter

The liquefied natural gas terminal project in Vasilikos will be implemented, Cyprus President, Nikos Christodoulides, has said, noting that the project should never have been assigned to the Chinese CPP-METRON Consortium Ltd.

Replying to journalists’ questions on the sideline of an event in Nicosia on 22 July and asked to comment on the issue of the implementation of the liquefied natural gas terminal in Vasilikos, the President said that, “the first thing I want to state with absolute certainty is that this particular project should have never been given to this company”. Judging by the result, he added, it cannot implement it.

President Christodoulides said that some decisions have already been made, stressing that “the project will be implemented.”

He added that the implementation of the project was a pillar of the Government's plan for the reduction of the electricity price, noting that Cyprus was among the EU member states with the highest electricity prices.

Asked about the floating storage and regasification unit (FSRU "Prometheus", President Christodoulides said that the Government had “a Plan B” in the event that discussions that are currently underway for this particular source do not bear fruit.

“Let's wait and see”, how things turn out, he added, reiterating that the Government had a plan in the case things do not lead to a desired result, for the aspect that concerns the Prometheus.

(Source: CNA)

The LNG terminal project in Vasilikos will be implemented, President says

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