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« BackNews: Cyprus Plans Floating LNG Facility

Cyprus Plans Floating LNG Facility

There could be a need for automatic tank gauging systems and other specialist equipment in Cyprus in the near future, after the government unveiled plans to construct a floating liquefied natural gas (LNG) terminal in the country.

Cyprus Mail reported on the news, which was initially revealed by local daily Phileleftheros. The current plan is to create a floating LNG storage terminal at Vassilikos port, with the LNG that’s imported being used for power generation in the island nation.

The generators operated by the state-owned electricity authority (EAC) are now set to be modified to allow them to burn LNG. Cyprus is aiming to start importing the fuel by the end of 2019, although EAC won’t be able to burn the fuel until 2020, once the modifications to its generators are completed.

It’s estimated that the cost of the project will be €340 million, which will cover the construction of the LNG storage facility, as well as a regasification unit. An emergency shelter for the regasification unit will also be constructed, to protect it in the event of adverse weather.

Although the state-owned Natural Gas Public Company will be the sole importer of the fuel, it has stated it will be taking on advisors and that it plans to invite tenders for the supply of natural gas and the construction of the jetty early next year.

Cyprus relies entirely on imported fuel for its electricity generation, the EAC explains, and at present the country operates three power stations all of which use mainly heavy fuel oil to generate power.