DEFA: THE FIRST SUCCESSFUL STEP FOR THE DEVELOPMENTS OF THE NECESSARY INFRASTRUCTURE FOR LNG IMPORT INTO CYPRUS

The Natural Gas Public Company of Cyprus (DEFA), announces today the successful completion of the first step of the tender procedure, for the Cyprus LNG Import Terminal which involves all the necessary infrastructure of LNG import into Cyprus.

Three international consortia comprising well establishing leaders have submitted proposals.

1. Joint Venture China Petroleum Pipeline Engineering CO, Ltd – CPP, AKTOR S.A., METRON S.A.
2. Consortium Samsung C&T, Posco E&C, Mitsui O.S.K. Lines, Osaka Gas
3. European Consortium (DAMCO Energy S.A., ENAGAS Services Solution S.L.U., GasLog LNG Services Ltd., SNAM Spa, TERNA S.A.)

The companies that submitted an offer cover a very wide geographical range, highlighting the particular importance of the tender at an international level as well as its viability.

"The successful result of the competitive process for the implementation of the infrastructure in order to import natural gas in Cyprus, as well as the great interest shown for this important energy Cyprus project by European and international players of the gas market, is just the first milestone for the realization of a long-term project that is directly linked to the country's energy upgrade and energy pluralism in Cyprus”, said Dr. Symeon Kassianides, Chairman of DEFA.

After the remarkable and powerful entries recorded in the contest, the great challenge for all parties involved, is to complete the evaluation process and start the work for the immediate implementation of the project. The primary objective of DEFA is to lay the foundations for a functioning natural gas market in Cyprus that ensures security of reliable gas supply, initially for power generation and subsequently to industries, hotels, bunkering, transportation and domestic consumers at the lowest possible cost and with minimum environmental impact.

It is reminded that 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 will be completed in 2021 and has secured part of the required funding of the CAPEX, as a grant from the EU under the Connecting Europe Facility (CEF) financial instrument.

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