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Cyprus starts work on first LNG import terminal
Team Sea and Coast | 14/07/2020

Cyprus has begun building its first LNG import office at Vassilikos, the country's biggest and most costly vitality venture.

The undertaking incorporates a FSRU associated with a wharf, securing offices, a pipeline, and other coastal and seaward related foundation.

It has a sticker price of 289 million euros ($327 million).

The office, entirely claimed by the administration, will assist Cyprus with reducing its dependence on oil imports for power age.

Cypriot President NicosAnatastiades said at a notable service on Thursday that the task places Cyprus in "another vitality time."

He said the LNG terminal would help bring down the nation's capacity age costs, cut discharges and lift financial development.

To remind, a consortium drove by the state-possessed China Petroleum Pipeline Engineering, a unit of CNPC, has tied down the agreement to construct the terminal.

The consortium incorporates Metron Energy Applications, Wilhelmsen Ship Management and Hudong-Zhonghua Shipbuilding.

The consortium will give a changed over FSRU. It has two years to convey an operational terminal from the time development starts.

There were already a few endeavors to fabricate a LNG terminal before the Cypriot government marked the arrangement with the Chinese-drove consortium.

Petroleum gas Infrastructure Company of Cyprus (ETYFA) will work the Vassilikos office.

The task has gotten the political and money related support of the European Union.

ETYFA won a 101 million euro award under the EU's Connecting Europe Facility.

It additionally made sure about advances from the European Investment Bank and the European Bank for Reconstruction and Development.

The Electricity Authority of Cyprus is additionally contributing 43 million euros to the undertaking.

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