The Ministry of Energy of Cyprus has signed an agreement with a consortium of China Petroleum Pipeline Engineering, Metron, Hudong-Zhongua Shipbuilding and Wilhelmsen Ship Management to build the island's first LNG import terminal. The LNG project would consist of a €289m floating terminal that would be commissioned in 2022 and that would supply gas to the 260 MW Mari gas-fired CCGT power plant, currently under construction and expected to be operational in 2021. The regasification terminal will be fully owned by the state of Cyprus and is expected to help reduce power generation costs by 15% to 25% by substituting gas for crude oil.
The Natural Gas Public Company of Cyprus DEFA launched the tender procedure for the design, construction and operation of the LNG terminal in October 2018. In July 2019, DEFA pre-qualified three joint ventures in the first phase of the tender. The shortlisted bidders include a consortium led by China Petroleum Pipeline Engineering, and including Aktor and Metron; an European consortium of DAMCO, Enagas, GasLog, Snam and Terna; and the consortium of Samsung C&T, Posco E&C, Mitsui OSK Lines and Osaka Gas.
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