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Ministry of Energy: Procedures for Recovering €67 Million from the Commission for Terminal

Published February 10, 2026, 12:16
Ministry of Energy: Procedures for Recovering €67 Million from the Commission for Terminal

The Minister of Energy, Commerce and Industry, Michalis Damianou, informed the Parliamentary Energy Committee about the procedures for recovering €67 million from the European Commission, which had been granted as funding for the liquefied natural gas terminal in Vasilikos. He stated that part of the amount has already been recovered through offsetting with other amounts of the Republic of Cyprus and with cash. The government prioritizes the completion of the project, seeking a new contractor through a competitive process. The study by the French Technip and the possibility of cooperation with the United Arab Emirates to complete the project were also discussed, although discussions are still in the early stages. The Minister was unable to provide a specific timetable for the completion of the project.