Cyfield in talks with China Harbour to complete Vasiliko LNG terminal
Six companies have expressed interest in completing the stalled Vasiliko LNG terminal, with Cyfield reportedly discussing a partnership with China Harbour.
Vasiliko, Cyprus. Cyfield is in talks to partner with Chinese state-owned contractor China Harbour to complete the stalled liquefied natural gas terminal at Vasiliko, Phileleftheros reported on Friday. Six companies have expressed interest in taking over the project, according to the newspaper.
Companies express interest
China Harbour was among the companies that submitted expressions of interest before the noon deadline set by the natural gas infrastructure company Etyfa, Phileleftheros reported.
Italian energy contractor Saipem was also reportedly among the interested companies, alongside three major Greek contractors, Terna, Avax and Archirodon, and Norwegian energy specialist ECOnnect Energy.
Energy Minister Michael Damianos said the number of interested companies and joint ventures would be confirmed on Monday.
Assessment and completion timeline
The cost of completing the terminal is estimated at around €180 million, with the work expected to take two years.
Etyfa will assess the initial submissions before deciding which companies or consortia will be invited to submit full offers. Technip Energies is advising the state-owned company on the process.
Project stalled since July 2024
Construction stalled in July 2024, when the government terminated its contract with the CPP-Metron Consortium, formed by China Petroleum Pipeline Engineering Co and Greece’s Metron Energy Applications.
The consortium accused Etyfa of “bullying” and complained of years without proper or timely payments.
The floating storage unit Prometheus, intended for use at the terminal, remains in Malaysia without certification.
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