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According to a tender notice published this week on the Cyprus government procurement website, Cyprus has invited international companies to bid for the development of Cyprus' first liquefied natural gas (LNG) import terminal, which the Cypriot government hopes to be completed
by 2020.
Cyprus relies almost entirely on imported petroleum products for its energy consumption, and by 2020, the country's power generation sector will need to shift from heavy oil to burning cleaner natural gas to comply with EU regulations
on emissions from power plants.
Although some gas fields have been discovered offshore near Cyprus, including the Aphrodite gas field in Cypriot waters, these fields have not yet been connected to the Cypriot land by pipeline, so Cyprus needs to import LNG to solve this problem
.
After several unsuccessful attempts to attract investment in LNG terminals, Cyprus has now issued a tender for a €500 million ($580 million) floating storage and regasification unit import terminal and associated infrastructure
.
According to a tender notice published this week on the Cyprus government procurement website, Cyprus has invited international companies to bid for the development of Cyprus' first liquefied natural gas (LNG) import terminal, which the Cypriot government hopes to be completed
by 2020.
Cyprus relies almost entirely on imported petroleum products for its energy consumption, and by 2020, the country's power generation sector will need to shift from heavy oil to burning cleaner natural gas to comply with EU regulations
on emissions from power plants.
Although some gas fields have been discovered offshore near Cyprus, including the Aphrodite gas field in Cypriot waters, these fields have not yet been connected to the Cypriot land by pipeline, so Cyprus needs to import LNG to solve this problem
.
After several unsuccessful attempts to attract investment in LNG terminals, Cyprus has now issued a tender for a €500 million ($580 million) floating storage and regasification unit import terminal and associated infrastructure
.
