Cyprus Signs Landmark LNG Deal
Faizan Hashmi Published December 14, 2019 | 12:00 AM
Nicosia, (UrduPoint / Pakistan Point News - 13th Dec, 2019 ) :Cyprus on Friday signed a landmark deal with a Chinese-led consortium to build a EUR290 million terminal for the import of liquified natural gas for electricity generation, local media said.
At a ceremony in Nicosia, Cyprus' natural gas infrastructure company ETIFA, a subsidiary of Natural Gas Public Company, signed a contract to build its first LNG terminal with a multinational consortium led by China Petroleum Pipeline Engineering.
"This is a significant project that ushers Cyprus into the natural gas era," Duan Bingquan, deputy managing director of China Petroleum Pipeline Engineering, told reporters.
The consortium also includes METRON (Greece), Hudong-Zhonghua Shipbuilding (China) and Wilhelmsen Ship Management (Norway).
The LNG terminal, to be completed by end 2021 or early 2022, will include a floating storage and re-gasification unit (FSRU), a jetty for mooring the FSRU, a jetty borne gas pipeline and related infrastructure.
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