Cyprus MPs Demand Timetable for Vasiliko LNG Project; Defa Grants One-Month Extension for Bids

Cyprus MPs visited the unfinished Vasiliko LNG terminal on Tuesday and demanded a clear schedule for its completion. Defa, the state‑run gas company, extended the deadline for companies to submit binding offers until October 9, up from September 9, after the former Chinese‑led consortium abandoned the project in July 2024. Etyfa, a Defa subsidiary, is now running a two‑stage procurement process for the remaining works, which are estimated to cost €180 million and take two years to finish. The contract will be awarded on a best‑price‑quality basis, not necessarily the lowest bid. Meanwhile, the floating storage and regasification unit, Prometheas, remains idle in Malaysia, with lease offers reportedly around €50 million per year. The delay has already cost the state and the economy, and MPs insist that the terminal must become operational to secure Cyprus’s energy supply.