Cyprus reaches agreement for delivery of FSRU

The Cypriot government and a Chinese consortium have come to an agreement for the delivery of the floating storage regasification unit (FSRU) "Prometheus," which is expected to be finalized within 60 days.

Energy Minister George Papanastasiou announced the deal to the Parliamentary Committee on Energy, explaining that while some guarantees were reduced as part of an economic settlement, no additional funds were provided.

Before the FSRU can be delivered, both sides need to complete specific steps, including securing certifications to allow the ship to sail.

In addition, the Energy Ministry is in the process of selecting a consultant to complete the unfinished pier and onshore infrastructure at the Vasilikos terminal, with the selection expected in two weeks. The consultant will help draft the necessary documents for the final tender.