Revised Timelines for Vasiliko Terminal

The Natural Gas Infrastructure Company (ETYFA) received the gap analysis study for the Vasiliko liquefied natural gas terminal on December 19th, as scheduled. The study, prepared by Technip, identified significant issues, and ETYFA is preparing to submit a new action plan based on the recommendations. The Minister of Energy acknowledged the problems and stated that a timeline has been set to address them, although it is not strict. ETYFA's plan is expected to be ready soon. Technip, as Project Manager, undertook the preparation of the study, which examines the discrepancies between the initial design and the construction works. This study is crucial for the correct course of the project and to avoid further delays. The new Minister of Energy, Neoklis Neokleous, confirmed the existence of problems and the need to revise the schedule. However, he expressed optimism about the timely completion of the project, emphasizing its importance for Cyprus's energy security. According to reports, ETYFA will consider Technip's recommendations and propose a new action plan, which will include specific measures to address the problems and accelerate construction work. The submission of the new plan is expected in the coming days.