{"id":12445,"date":"2024-05-20T11:01:17","date_gmt":"2024-05-20T08:01:17","guid":{"rendered":"https:\/\/ch.jfdi.cc\/?p=12445"},"modified":"2024-05-20T11:01:17","modified_gmt":"2024-05-20T08:01:17","slug":"cmc-call-for-meeting-on-neutral-territory-in-vasiliko-spat","status":"publish","type":"post","link":"https:\/\/ch.jfdi.cc\/?p=12445","title":{"rendered":"CMC call for meeting on , \u2018neutral territory\u2019 in Vasiliko spat"},"content":{"rendered":"<div><img decoding=\"async\" src=\"http:\/\/ch.jfdi.cc\/wp-content\/uploads\/2024\/05\/cmc-call-for-meeting-on-neutral-territory-in-vasiliko-spat.jpg\" class=\"ff-og-image-inserted\"><\/div>\n<p>Chinese-led construction firm CPP-Metron Consortium Ltd (CMC) <strong>called for a meeting with a \u201cdecision maker\u201d appointed by the Cypriot government in a \u201cneutral territory\u201d<\/strong> as the crisis deepens over the under-construction liquefied natural gas (LNG) terminal at Vasiliko.<br \/>\nIt said, \u201cthe Chinese consortium has made it clear that it is willing to meet such a decision maker in a neutral territory, <strong>such as Dubai<\/strong>, to negotiate the necessary reset which would allow Cyprus to realise the benefits of this project.<br \/>\n\u201cThe choice between a successful or failed project is entirely in Cyprus\u2019 hands,\u201d it added.<br \/>\nIt said, \u201cin recent days, it has become clear\u201d that Natural Gas Infrastructure Company (Etyfa) has a \u201cplan to terminate its contract with the Chinese consortium in favour of contracting with local Cypriot suppliers to complete the LNG import terminal\u201d.<br \/>\nFor this reason, it said, \u201cit has spent the last few months, possibly longer, orchestrating a situation to allow that to happen\u201d, and that <strong>the situation has now \u201creached a crisis point\u201d<\/strong>.<br \/>\n\u201cThe Chinese consortium has remained, throughout, willing to deliver this project and even now has offered the Cypriot government a way to step back from the brink and save this project so that natural gas can be brought to Cyprus and generate electricity at the earliest possible opportunity and at the most competitive budget,\u201d it said.<br \/>\nIt added that it has \u201ctabled a proposal which offered Cyprus a comprehensive solution to de-escalate the situation, unblock the stalemate, and resolve all outstanding issues.<br \/>\n\u201cIf Cyprus truly wants to avoid the increasingly real catastrophe of losing its chance of bringing natural gas to the island to generate electricity in the foreseeable future, Cyprus needs to appoint a decision maker with full authority to discuss and agree the route to implementing that proposal,\u201d it said.<br \/>\nCMC\u2019s latest statement comes as <strong>Cypriot President Nikos Christodoulides is set to meet Chinese ambassador Liu Yantao<\/strong> to discuss the impasse between CMC and Etyfa.<br \/>\n\u201cThe state will not be blackmailed, the state is faithful to its obligations, and we always respond, and we are here in this matter as well to deal with it,\u201d Christodoulides said.<br \/>\nHe went on to say that regarding the Vasiliko project, \u201cwe have a plan which needs to be implemented.<br \/>\n\u201cWith absolute good faith and will, we will manage the problems which have come up and I hope that with good will and initiative on the other side, <strong>solutions will be found<\/strong>,\u201d he added.<br \/>\nAsked whether the government has a \u2018plan B\u2019, he said, \u201cof course there is a \u2018plan B\u2019. We are obliged to think about a \u2018plan B\u2019, but I do not want it to get to that point.\u201d<br \/>\nCMC had said on Saturday that Etyfa \u201chas persistently breached its payment obligations under its contract \u2026 for the Vasiliko LNG facility.\u201d<br \/>\nIt said, \u201cEtyfa has used such non-payment as a \u2018weapon\u2019 to coerce CMC into accepting various Etyfa demands. <strong>Etyfa was late by a year in making certain advance payments and has persistently failed to make milestone payments<\/strong>.\u201d<br \/>\n\u201cAs a result, CMC has been forced into the unsustainable position of funding the work it has performed. This was never the agreed deal,\u201d it said.<br \/>\nIt added that <strong>their suspension of work in January was an \u201cabsolute last resort\u201d<\/strong> which they lifted in March \u201con assurances that Etyfa would clear debts [owed] to CMC and going forward would comply with the contractual procedures and timetable for approving payments.\u201d<br \/>\nEarlier, it had said Etyfa had made \u201chuge changes to what it asked CMC to build\u201d and that CMC \u201chas worked hard to meet Etyfa\u2019s demands\u201d and therefore \u201cwonders why Etyfa is still refusing to pay for all the changes\u201d.<br \/>\nOutlining the original plans, CMC said Etyfa had awarded them with the contract to build the facility in 2019, and that the contract included the construction of a floating storage and re-gasification unit (FSRU) and a jetty connecting it to the shore.<br \/>\n\u201cWe have been working hard for years \u2026 and apart from <strong>Etyfa\u2019s inexplicable refusal to take delivery of the completed FSRU which is ready in Shanghai<\/strong>, another major dispute between the parties now concerns the jetty itself.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>&#8211; Chinese-led construction firm CPP-Metron Consortium Ltd (CMC) called for a meeting with a &#8220;decision maker&#8221; appointed by the Cypriot government in a &#8220;neutral territory&#8221; such as Dubai.<br \/>\n&#8211; The situation at the under-construction liquefied natural gas (LNG) terminal at Vasiliko has reached a crisis point.<br \/>\n&#8211; CMC has offered a comprehensive solution to de-escalate the situation and save the project.<br \/>\n&#8211; Cypriot President Nikos Christodoulides is set to meet with Chinese ambassador Liu Yantao to discuss the impasse.<br \/>\n&#8211; Etyfa has persistently breached payment obligations under the contract for the Vasiliko LNG facility.<br \/>\n&#8211; CMC suspended work in January as an &#8220;absolute last resort&#8221; due to payment issues but lifted the suspension in March on assurances from Etyfa.<br \/>\n&#8211; Etyfa has made changes to the project and has refused to pay for them, including refusing to take delivery of the completed FSRU.<\/p>\n","protected":false},"author":3,"featured_media":12446,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"Default","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4],"tags":[1766,2944,10581,1031,1240,10461,2577,2144,1625,10474,4961,2608,5255,2950,3,10263,7017,553,10556,9804,8903,4962,304,4081,4548,250,3330,415,4407,6403,2796,1428,3595,148,7776,1346,758,3331,193,6121,7378,10481,4843,503,8240,4753,4671,7559,6386,10468,7967,1827,812,2907,4544,10469],"class_list":["post-12445","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cyprus","tag-budget","tag-chinese-ambassador","tag-chinese-led-construction-firm","tag-christodoulides","tag-clear","tag-cmc","tag-concerns","tag-consortium","tag-construction","tag-construction-firm","tag-cpp","tag-cpp-metron-consortium-ltd","tag-crisis","tag-cypriot-government","tag-cyprus","tag-cyprus-mail","tag-dispute","tag-electricity","tag-etyfa","tag-faithful","tag-follow","tag-fsru","tag-funding","tag-future","tag-gas","tag-google","tag-google-news","tag-government","tag-hope","tag-infrastructure","tag-issues","tag-liquefied-natural-gas-terminal","tag-lng","tag-local","tag-march","tag-meeting","tag-natural-gas","tag-news","tag-nikos-christodoulides","tag-opportunity","tag-parties","tag-plan-b","tag-president","tag-president-nikos-christodoulides","tag-problems","tag-project","tag-proposal","tag-refusal","tag-situation","tag-spat","tag-state","tag-statement","tag-storage","tag-suspended","tag-suspension","tag-vasiliko"],"acf":{"keyphrase":"","keywords":"","sourceimg":"","country-category":""},"yoast_head":"<!-- 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