Filenews 30 June 2024 - by Chrysanthos Manoli
Although negotiations between the Ministry of Energy and ETYFA are ongoing with the side of the consortium that undertook to build the natural gas regasification terminal in Vasilikos, so far there has been no positive development regarding the main issue: To deliver the Prometheus floating unit to ETYFA without any additional cost.
As Phileleftheros rewrote, the Chinese CPP is demanding €32 million, in addition to what has already been paid by ETYFA for the ship (approximately €190 million) to consent to the departure for Vasilikos. The Cypriot side argues that the additional economic claim of the Chinese has no justification and rejects it.
The time of crisis has been postponed for a short time, as at this stage all the attention of both sides is focused on completing the remaining works for the floating unit to receive final certification from Lloyds that it can sail safely to the Mediterranean, via Africa, due to the known problems caused in the Red Sea by Houthi pirates. ETYFA's side notes that there is substantial progress in the work being done at the Cosco shipyard. For the final certification, however, bureaucratic procedures are also required, so that the ship can fly the Cyprus flag and an international insurance company is selected to cover risks during sailing and docking in Cyprus.
The final crucial decisions by both sides – which will determine how things will turn out – will be taken when the work is judged by Lloyds to have been successfully completed.
As long as the pending issue with the Prometheus FSRU remains, there can be no release of ETYFA even with regard to the Vasilikos projects. The divorce with the CPP-Metron consortium cannot be finalized without the delivery of the vessel, which is considered the heart of the terminal.
