The discovery of Cyprus’ first gas field, offshore in the Eastern Mediterranean, was reason for celebration in December 2011. Rising tensions with Turkey and the Covid-19 pandemic, however, have slowed the exploitation of discoveries that include the 4.5 tn ft3 (370 bn m3) Aphrodite field, the 3-5 tn ft3 Calypso field, and 5-8 tn ft3 Glaucus field. The delay has led to the Cypriot authorities’ commissioning of an import facility to meet its domestic demand if production doesn’t commence any time soon. The assignment has been given to a multinational consortium led by China Petroleum Pipeline Engineering Corporation (CPPEC). The floating storage regasification unit (FSRU) includes onshore pipelines and additional facilities will be built at Vassiliko Port. The FSRU will have 125,000 m3 of storage capacity while being capable of unloading LNG carriers ranging from 120,000 m3 to 217,000 m3. The project’s value is €500 million and is co-financed […]