Cyprus’s first liquefied natural gas (LNG) infrastructure at Vasilikos is on track for completion by end-2025, with the floating storage and regasification unit (FSRU) “ETYFA-Prometheus” expected to be operational at the terminal, Energy Minister George Papanastasiou said.
Natural gas imports are scheduled to begin in the first quarter of 2026 for testing by both the Electricity Authority of Cyprus and private power producers, the minister added.
The FSRU vessel departed Shanghai on 14 December 2024 and arrived in Singapore for technical evaluation by floating regasification specialists. It is currently undergoing further checks and adjustments in Malaysia’s Malacca Strait to ensure operational readiness.
Papanastasiou emphasised the need to synchronise the completion of Vasilikos infrastructure with the vessel’s arrival to prevent deterioration from prolonged inactivity.
Great Sea Interconnector
Regarding the Great Sea Interconnector (GSI) project, Cyprus awaits a written response from Greek Environment and Energy Minister Theodoros Skylakakis about Greece’s participation in the project’s share capital. Ownership and infrastructure management were discussed at a meeting on 27 December, with final decisions pending proposals from Greece’s power grid operator IPTO.
Kronos gas field
The minister also discussed developments on the “Kronos” gas field, expected to provide Cyprus’s first domestic natural gas production. The operating company is in talks with Egyptian and Cypriot authorities for commercial arrangements, with the field development plan due within two months.
Gas from Kronos is planned to be transported through Egypt’s Zohr infrastructure, with some designated for the domestic market and the remainder for liquefaction and export to international markets.
Papanastasiou stressed that these energy initiatives strengthen Cyprus’s strategic position on Europe’s energy map.
