Bidding for Vasilikos Terminal Contract Open Until August 26 amid Challenges with Promitheas FSRU
Companies interested in bidding to complete the Vasilikos gas processing terminal works have until August 26 to submit questions to ETYFA regarding the tender terms announced on July 30. The original deadline for expressions of interest was September 9, but ETYFA may grant an extension if requested during the clarification period. The tender is a restricted procedure with a prequalification stage, where eligible contractors can later submit detailed technical and financial bids for the €180 million project expected to take two years to complete.
Meanwhile, the floating LNG storage and regasification unit Promitheas remains idle at a Malaysian port, awaiting certification and testing needed before operating at Vasilikos, a process that could take two to three years or longer after terminal completion. Officials are considering leasing Promitheas to other companies to bring it into use in the interim, though concerns exist over long-term leases that might delay its eventual deployment in Cyprus.
Among interested lessees, Abu Dhabi National Oil Company (ADNOC) is reportedly offering around €50 million annually, with others also expressing interest. This comes amid ongoing regional energy developments, including ADNOC and BP pursuing Shell’s stake in Cyprus’s Aphrodite gas field, a move met with some government reservations.
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