Cyprus’ long-delayed LNG import terminal at Vasilikos has moved from being a troubled infrastructure project to a full-blown governance scandal after a gap-analysis study commissioned by state gas infrastructure firm ETYFA laid bare fundamental failures in project design, tendering and oversight.
The findings, reported by local media, provide a glimpse into why the European Commission last year clawed back €67mn ($79mn) of EU funding already disbursed for the project and cancelled payment of the remaining €28mn. They also sharpen the focus of an ongoing investigation by the European Public Prosecutor’s Office (EPPO), which is probing potential irregularities in the tendering and management of the €500mn ($590mn) project (MEES, 12 September 2025). (CONTINUED - 1076 WORDS)
