Cyprus to restart its gas project
Cyprus is gearing up to revive its biggest energy project, the long-delayed natural gas terminal at Vasilikos, after a rocky period following the exit of a Chinese consortium that had taken the lead. The project’s revival marks a major step toward finally importing natural gas, which the government hopes will bring down electricity costs for consumers.
Almost six months after the sudden withdrawal of the Chinese-led CPP-Metron Consortium, the government, through the Natural Gas Infrastructure Company (ETYFA), is preparing to sign a crucial contract with a European consultancy firm. This firm will oversee the remaining work on the terminal, pushing the stalled project forward with fresh momentum.
Although officials haven’t yet revealed the name of the consultancy or the financial terms, sources confirm that all technical agreements are in place. The signing of this agreement is expected to happen very soon – kick-starting the process of reviewing tender documents and selecting a new contractor to complete the infrastructure.
If everything goes according to plan, the terminal could be operational by the end of 2025, though April 2026 is the latest fallback deadline.
