The Natural Gas Public Company of Cyprus (DEFA) has selected a consortium led by China Petroleum Pipeline Engineering (with Aktor, Metron, Wilhelmsen Ship Management, and Hudong-Zhonghua Shipbuilding) to build a floating storage and regasification unit (FSRU) to import and regasify LNG in Cyprus. Two other consortia were candidates for developing the project: a consortium of Samsung C&T, Posco E&C, Mitsui OSK Lines and Osaka Gas; and a European composed of DAMCO, Enagas, GasLog, Snam and Terna.
The proposed LNG terminal will include an FSRU with a storage capacity of 125,000 cm, a jetty for mooring the FSRU, a jetty borne gas pipeline and related infrastructure to unload LNG from LNG carriers ranging between 120,000 cm and 217,000 cm. The €500m (US$544m) project is expected to be completed in 2021 and has secured a €101m (US$112m) grant from the European Union under the Connecting Europe Facility (CEF) financial instrument.