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17 July, 2024
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Vasiliko: President dismisses 'velvet divorce' talks with Chinese firm

Nikos Christodoulides reaffirms commitment to resolving issues with Chinese company CPP as Minister of Energy expresses optimism about project's future


Cyprus President Nikos Christodoulides dismissed reports of a "velvet divorce" with the Chinese state-owned company CPP regarding the liquefied natural gas (LNG) terminal in Vasiliko. Speaking to journalists before attending a charity basketball match in Nicosia, Christodoulides emphasized that efforts to address the issue are ongoing.

The President's comments come amid speculation about the future of the LNG terminal project at Vasiliko and concerns over a potential split with CPP. Christodoulides clarified that discussions are underway regarding the vessel, jetty, and onshore terminal components of the project, aiming to find a solution to advance the project.

Responding to questions about terminating the agreement with Kition Ocean Holdings for the Larnaca port and marina, Christodoulides underscored the government's commitment to progress. He highlighted the importance of moving forward with alternative plans to ensure developments proceed swiftly, addressing concerns about job security for workers affected by the termination.

Regarding recent incidents like the blast in Limassol and concerns about fires, Christodoulides stressed the need for vigilance and cooperation. He acknowledged the role of neighboring states, particularly Jordan, in providing immediate assistance. Christodoulides urged caution to prevent situations that could exacerbate such challenges.

Meanwhile, Minister of Energy, Commerce, and Industry Giorgos Papanastasiou expressed optimism about the Vasiliko terminal project. He noted ongoing consultations between parties and positive developments, including diplomatic and technical discussions. Papanastasiou highlighted the strategic importance of the terminal for Cyprus, emphasizing the need to reduce electricity costs through LNG imports.

Addressing Turkey's drilling activities in the region, Papanastasiou reaffirmed Cyprus' adherence to international law and regulations. He emphasized Cyprus' sovereignty in conducting its drilling program and downplayed Turkey's actions, asserting that they do not impact Cyprus' plans.

On the Aphrodite natural gas deposit, Papanastasiou conveyed confidence in the consortium's progress. He indicated that the consortium, led by Chevron, has outlined a promising direction for development and urged concrete steps to exploit the deposit efficiently.

As Cyprus navigates complex energy and infrastructure challenges, both Christodoulides and Papanastasiou reiterated their commitment to addressing key issues and advancing projects vital for the country's future.

[With information sourced from CNA]

Cyprus  |  energy  |  China

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