Nicosia, Cyprus. Opposition politicians on Thursday warned that Cyprus could face insufficient electricity by 2030, urging the government to act quickly following a review of the stalled LNG project at Vasiliko.
The warnings came after a closed-door session of the House audit committee, which examined an Audit Office report on the project.
Closed-door committee session
The House audit committee meeting was closed to the media because of sensitive matters that could affect arbitration proceedings underway in London between the Cypriot state and the Chinese consortium that formerly held the contract for the LNG terminal.
Opposition warning
After the session, Akel leader Stefanos Stefanou described the case as “one of the biggest scandals in the history of Cyprus,” saying it leaves the island exposed in terms of electricity sufficiency.
He said Cyprus risks being left without power after 2030 and that the solutions would be costly.
Cost of delays
Stefanou said that because natural gas is not being used, electricity prices remain high for consumers, while Cyprus also continues to buy greenhouse gas emissions allowances.
According to the Akel MP, Cyprus paid €1.2 billion for these allowances between 2018 and mid-2025.
Government criticism
Stefanou criticized the Christodoulides administration, saying its response to the issue had been slow.
He said that instead of addressing what he called a “ticking time bomb,” the government had added to the problem.
Power station deadlines
Stefanou said authorities must decommission power turbines at the Dhekelia power station by the end of 2029, along with three more turbines at the Vasiliko plant.
