Cyprus is accelerating its LNG-import plans, planning to base a floating storage and regasification unit (FSRU) at the Port of Vasilikos.
Phileleftheros newspaper reports that Cyprus will import LNG from year-end 2019, supporting government plans to switch the state-owned electricity authority to gas-based power production from 2020.
The €340M (US$404M) Cynergy project comprises a jetty and infrastructure for an FSRU. Cyprus will cover up to 75% of the cost with European Union funding.
Natural Gas Public Co will be the sole importer into Cyprus. It will invite tenders early next year, from LNG and FSRU suppliers and for construction. Construction includes expanding the existing jetty at Vasilikos, adding a breakwater and pipelines linking the port to the nearby production plant.