The Chinese Ambassador to Cyprus, Liu Yantao, stated that the Vassiliko LNG project's main body could be completed by the end of 2024 or early 2025, provided there is genuine cooperation among various parties. "The Vassiliko project is a bit complicated. Now it has come back on track. We are seeing major opportunities, and the prospects are bright," Liu commented.

His remarks were made in response to journalists' questions at a media workshop organized by the Chinese Embassy in Nicosia.

Addressing concerns about the construction of the LNG terminal in Vassiliko, Larnaca district, by the Chinese CPP-Metron Consortium, Liu, speaking through an interpreter, noted that current discussions and media reports have clarified the problem's cause and responsibility.

He mentioned that a representative of the Consortium had a productive meeting with the Cypriot Minister of Energy last Friday, resulting in a constructive mutual understanding. Additionally, President of the Republic, Nikos Christodoulides, visited the construction site last Saturday and made a positive statement.

"The Cypriot government, especially President Christodoulides, has shown significant support for this project, which we highly appreciate," Liu added. "Despite the challenges posed by COVID-19 and other factors, we remain optimistic about the project's future. Good outcomes often follow many tests," he continued.

Liu emphasized the importance of mutual understanding, contract adherence, and joint benefit. "If both sides maintain this spirit, they will address relevant issues effectively, ensuring the project benefits the people and strengthens bilateral friendship," he stated.

Liu expressed his confidence in the project, emphasizing that no insult or disrespect was intended. Both sides maintain a friendly relationship, adhere to their contractual obligations, and seek mutual benefits. He hoped for continued support for the project's smooth completion, enabling early access for Cypriots to LNG electricity and supporting Cyprus' green energy transformation.

Regarding the project's downstream components, Liu hoped they would also be prioritized to expedite the project's benefits. He clarified this includes pipeline establishment and power station transformation.

On meeting the project deadline, Liu explained that original and supplementary agreements had set deadlines in July 2022 and July 2023, respectively. However, the project has experienced several developments.

"As long as there is sincere cooperation among parties, we can expect an early completion. Managing relationships between parties is crucial for timely completion," Liu remarked.

He detailed the project's two parts: the FSRU vessel being constructed in Shanghai, nearly 99.9% complete, and the onshore constructions, about 50% complete, which do not involve sophisticated technology.

"Some Chinese workers will soon arrive in Cyprus to work on the onshore facilities. With Chinese efficiency and speed, the project's prospects are very optimistic," Liu stated confidently.

"With genuine collaboration, the main body of the Vassiliko project could be finished by the end of this year or early next year," he concluded.