Cyprus takes first step into LNG era

Cyprus takes its first step into the natural gas era on Thursday when President Nicos Anastasiades lays the foundation stone of the island’s first LNG terminal at Vasiliko, Larnaca.

The €289 mln project is considered to be Cyprus’ largest energy venture and features an LNG floating storage and regasification unit (FSRU), a jetty, mooring facilities, a pipeline, and other onshore and offshore related infrastructure.
Construction is expected to be concluded in 2022.

“The project will pave the way for the electricity market, as without natural gas the market cannot open,” said Natural Gas Public Company (DEFA) chair Symeon Kassianides.

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