Filenews 9 July 2025 - by Eleftheria Paizanou
Blocked in the procedures and the evaluation of thousands of documents is the project of the liquefied natural gas terminal in Vassilikos. No one knows anymore when the project will be completed, as it is only in March 2026 that the new consultant of ETYFA (project manager) will be able to inform the state about the timetables for the completion of the project and the terms of bids for the tender for the construction of the land projects in Vassilikos.
So far, almost 50% of the works have been completed (i.e. mainly the ship Prometheus). In relation to the onshore projects, they were initially built by a Chinese consortium, but now DEFA will have to bid in search of a new contractor.
On the other hand, consultations are underway with the subcontractor of the Chinese CPP for the completion of the works on the pier, with the Minister of Energy Giorgos Papanastasiou assuring that ETYFA is close to an agreement.
In the context of the discussion of the issue yesterday in the parliamentary Energy Committee, the MPs left spikes for the delay observed, with the Minister of Energy replying that the government undertook the project with weights and many problems.
Mr. Papanastasiou attributed the delay to the fact that the government undertook the project as incomplete, as well as to the negotiations with contractors, consultants as well as the procedures of the State, emphatically stressing that if the project were private, it would be completed within a year.
"If the project started today, this government would not have taken the decisions that were taken then. The choice of a contractor and contracts with terrible ambiguity would not be repeated," he noted.
Two components are missing
In relation to the ship Prometheus, the minister said that it is in Malaysia under the management of a company of Norwegian interests. It is worth mentioning that when the Republic took over the ship from the CPP, it was known that two key components from the Chinese company, which were necessary for the ship to be evaluated as a natural gas dehydrogenation unit (FSRU), had not been fitted to it.
According to Mr. Papanastasiou, Prometheus lacked the valve system and the nitrogen production unit and their installation will cost €8 to €9 million, money that will be reclaimed during the arbitration in London. The minister also expressed the assessment that in September the ship will receive the relevant certification for conversion into a floating natural gas storage and regasification unit and will be delivered to the Republic in October.
About €1000 per day
The ship's stay in Malaysia, according to ETYFA, costs around €1000 per day. As it was said, the cost was €367,000 per month, with ETYFA representatives reporting that since June the cost has been reduced by €47,000 per month, i.e. about €1000 per day. The total budget of the project amounts (excluding the cost of delays and additional expenses) to €325 million, of which €220 million concerned the ship.
