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Damianos on Vasiliko: “No Timelines - Natural Gas from 2027”

Published February 12, 2026, 09:16
Damianos on Vasiliko: “No Timelines - Natural Gas from 2027”

Energy Minister Michalis Damianos stated that the government will not announce timelines for the natural gas terminal in Vasiliko that cannot be met, as ETYFA technicians are unable to accurately determine when the project will be completed. He recalled that energy plans for the arrival of natural gas began in 2007, with initial targets that were not achieved, and were followed by different approaches, including the creation of a consortium in 2019-2020, which was eventually terminated after international arbitration in 2023. Mr. Damianos emphasized that the government is seeking to complete the project from where it stopped, as a change of design would require more time and cost. Following the termination of the contract, new tenders will be announced for the completion of the pier and the land part of the facilities, while the FSRU “Prometheus” is ready and located in Malaysia. The Minister confirmed that discussions are underway with the United Arab Emirates for energy cooperation, within the framework of a signed memorandum of understanding, but clarified that the contacts are at an early stage and cannot be the sole option. He also admitted that significant amounts have been spent, including tens of millions for consultants, but argued that the completion of the project is in the country's interest, as it will lead to cheaper electricity.