Serious concerns over the completion of the Vasilikos natural gas terminal and the future of the floating unit ‘Prometheus’ were raised during a tense session of the House Energy Committee, with MPs demanding clear answers from the government and the Natural Gas Infrastructure Company (ETYFA).

MPs questioned Energy Minister Michalis Damianou and ETYFA officials on the cost, timeline and implementation model of the delayed liquefied natural gas (LNG) project. Many questions remained unanswered and were deferred to a follow-up meeting next week.

Questions over costs, tenders and delays

Committee members requested updated figures on the overall cost of the Vasilikos terminal, details on how the project will proceed following the collapse of the original contract, and when a new tender will be launched. MPs stressed that prolonged delays continue to burden consumers, who pay millions annually due to emissions costs.

Particular focus was placed on a technical study by French firm Technip, recently delivered to ETYFA and the Ministry of Energy. The study assesses the current state of the project and outlines possible completion scenarios. Minister Damianou said ETYFA is expected to submit its own analysis before the findings are shared with Parliament.

Legal advisors and arbitration spark confrontation

A major point of contention concerned the legal and technical advisors involved in the project and the ongoing arbitration proceedings in London, initiated by the former Chinese consortium.

MPs demanded to know whether the technical advisors of the gas terminal are also advising the Republic’s legal team in the arbitration, raising transparency concerns. It was stated that advisor fees have exceeded €10 million, while the Chinese consortium is reportedly claiming €136 million.

Energy Committee chairman Kyriakos Hatzigiannis accused the government of withholding information, calling the situation a “game of hide and seek”. ETYFA chairman Giorgos Asikalis cited confidentiality due to arbitration, claiming past disclosures had leaked to the media—remarks that triggered strong cross-party reactions.

What’s next for the ‘Prometheus’?

MPs also sought updates on the ‘Prometheus’ floating unit, which remains in Malaysia, questioning whether works have been completed, when it can sail to Cyprus, the cost of its prolonged stay, and whether it could be leased until the terminal is ready.

Minister Damianou said the vessel can only be certified once it receives a full LNG cargo, adding that chartering it is difficult and that Cyprus currently lacks the necessary jetty infrastructure.

AKEL warns costs could exceed €1 billion

AKEL General Secretary Stefanos Stefanou warned the project risks becoming a “time bomb”, estimating costs could rise from €315 million to over €1 billion. He described the project as a scandal stemming from poor agreements, noting that Cyprus has lost €101 million in EU funding, including a request to return €67 million.

MPs across parties insisted that clear answers must be provided at the committee’s next meeting, while the Energy Minister said the final cost will become clearer once new bids are submitted.