Government , ‘has no plan B’ over Vasiliko LNG terminal
The Vasiliko liquefied natural gas (LNG) terminal project in Cyprus is currently stalled, with no alternative plan (“plan B”) in place, as stated by Energy Minister George Papanastasiou. The project is facing delays due to arbitration proceedings between the Republic of Cyprus and the Chinese-led consortium responsible for building the LNG plant. Despite reservations about the consortium, the government aims to complete the project with the current contractor as the fastest solution, requiring the project to be delivered by July 2024. This deadline comes after two previous extensions, with the initial completion date set for September 2022. Papanastasiou remains optimistic about the project’s completion and is in discussions with the Chinese Ambassador Liu Yantao. Concerns about potential violations and the need for possible criminal investigations have been raised, with some suggesting the matter be referred to the Anti-Corruption Authority.