Newsroom
Cyprus is continuing to incur substantial monthly costs while the floating natural gas storage and regasification unit (FSRU) Prometheus remains idle in Malaysia.
According to Giorgos Petrou, chairman of the Electricity Authority of Cyprus (EAC) board and the authority’s representative on the Natural Gas Infrastructure Company, the Republic is charged roughly €400,000-€450,000 for every month the vessel stays anchored. Speaking on RIK’s Third Programme, Petrou clarified that port fees are only a minor portion of the expense. The bulk of the ongoing cost comes from maintaining crew on board and supplying the ship with fuel.
Petrou said the FSRU itself is technically ready for use. However, the European Commission has so far refused to approve Cyprus’s request to temporarily lease the vessel to another destination. Brussels maintains that the project received EU funding specifically to develop gas infrastructure for Cyprus’s electricity generation needs. Since the onshore facilities at Vasiliko are still incomplete, and the government cannot yet provide a firm completion timetable, the Commission has not agreed to a diversion of the vessel.
The Prometheus left Shanghai in mid-December 2024 and reached the Strait of Malacca on Christmas Eve. At that point, authorities determined the vessel required certain additional components. The delayed procurement and installation of these parts has further increased the overall cost burden on the Cypriot state.
