Cyprus has awarded the tender for the construction of a Floating Storage and Regasification Unit (FSRU) and the required infrastructure to import LNG to a consortium led by Chinese state firm China Petroleum Pipeline Engineering (CPPE). CPPE is partnered by Greek construction firms Aktor and Metron along with fellow Chinese state firm Hudong-Zhonghua Shipbuilding and Norway’s Wilhelmsen Ship Management make up the rest of the consortium.

The FSRU will have at least 125,000m³ storage capacity and the ability to unload LNG from carriers ranging from 120,000-217,000m³ (MEES, 12 October 2018). Constructing and operating the FSRU under a 20-year term is estimated at €500mn ($554mn; €300mn to build, €200mn to operate), with Cyprus obtaining €101mn in the form of a grant from the EU’s Connecting Europe Facility (CEF). (CONTINUED - 251 WORDS)