Defa targets contract award before next summer for Vasiliko gas terminal completion

Vasiliko, Cyprus. Defa chairman George Pistentis said on Wednesday that lessons from earlier problems with the Vasiliko natural gas liquefaction terminal had informed the new tender to complete it. He said the aim was to award a contract before next summer.

Selection timetable and safeguards

Speaking to the Cyprus News Agency, Pistentis said the tender had incorporated previous experience and addressed issues encountered earlier to prevent their recurrence.

With submissions of interest now closed, he said, the criteria governing the second stage were being prepared. Interested companies would be assessed on technical and financial grounds, covering their capabilities, experience and financial soundness.

Pistentis said assessments had begun as soon as the expressions-of-interest process ended. The target was to finish preselection by the end of this year, with a view to awarding the contract before next summer.

Eight parties express interest

Eight parties submitted expressions of interest before the deadline last week: Avax SA and Terna SA from Greece; Petrojet, an Egyptian state-owned company; China Harbour Engineering Company, a Chinese state-owned company; Norway’s Econnect Energy; Italy’s Saipem SpA; Israel’s Baran International; and Cyprus’s Archirodon.

Cyfield, another Cypriot company, is reportedly discussing joining the China Harbour Engineering Company bid.

Pistentis said he was pleased with the level of interest and that the identities of the companies suggested some were capable of carrying out the work.

Estimated cost and duration

Energy Minister Michael Damianos had previously put the estimated cost of finishing the project at around €180 million. He said he expected completion to take two years.