A STEP CLOSER TO THE ESTABLISHMENT OF THE NATURAL GAS MARKET IN CYPRUS

Nicosia, August 23, 2019

Today’s announcement is the outcome of a lengthy and complex tender process overseen by DEFA in cooperation with external industry experts, amongst whom were highly experienced technical, legal, commercial and financial experts.

The first ranked tenderer had to satisfy a series of qualitative, quantitative and financial criteria, so as to be able to demonstrate an ability to perform at the high standards set by DEFA regarding the development of the Cyprus natural gas market infrastructure.

It is expected that the successful Tenderer will be invited to Nicosia the soonest for the finalization of the process and the signing of the contracts with ETYFA (Natural Gas Infrastructure Company).
It should be noted that this Tender is the next critical stage toward the development of the natural gas market in Cyprus and that a number of consortia from major companies active both in Europe and internationally participated in the tender process.

DEFA Chairman, Dr. Symeon Kassianides commented,

"We are pleased to see the successful outcome of the process. Here at DEFA we believe that the future of the country is aligned with natural gas and we expect it to play a major role in the economic development of the country in years to come. The establishment of the natural gas market will boost the development of the whole energy and industry sectors of the Republic."

The LNG Import terminal includes a Floating Storage Regasification Unit (FSRU), a jetty for the mooring of the FSRU, jetty borne and onshore pipelines as well as additional facilities.

The LNG Import Project is co-financed by a grant from the EU Connecting Europe Facility (CEF) financing instrument.

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