Rethinking Plans for Cyprus’ FSRU ‘Prometheus EDEF’ Amid Technical Delays
The Government Considers Alternative Uses for the Floating Storage and Regasification Unit During Infrastructure Completion
There appears to be a change in plans for the floating storage and regasification unit (FSRU) 'Prometheus EDEF'. Originally considered for rental to another country until the completion of terrestrial work at Vasilikos, this idea is now being reconsidered.
As reported by Brief, Energy Minister Giorgos Papanastasiou stated that the Republic of Cyprus would receive the Prometheus only after two crucial certifications are obtained from the contractor. These are expected to be completed by January 2024, as informed by the project contractor in Shanghai.
This development, as further explained by the Minister, is due to technical issues identified during the Prometheus' trials. While most of these issues have been rectified, they have delayed its handover to the Republic of Cyprus.
This delay affects the initial plan to rent the unit to another country, as Cyprus was set to receive the Prometheus by the end of October, according to original timelines.
"The remaining time until the completion of the terrestrial infrastructure is not sufficient, making it difficult to find a charterer for such a short period," the Minister noted.
It was the state's original goal to prevent the Prometheus from being underutilized and to rent it out until the completion of the terrestrial infrastructure at Vasilikos, expected to be finished by July-August 2024.
Nevertheless, Minister Papanastasiou added that there are considerations to prevent the Prometheus from being entirely idle. It could be used, after some temporary infrastructure adjustments, for trials on the use of Natural Gas in the generators of the Electricity Authority.
"We are considering this scenario. I don't know if we can use it," said the Energy Minister, adding that "in other countries, something similar has been done, like in Germany. They brought in FSRU ships, worked through provisional infrastructure, and conducted combustion in power plants."
If the Prometheus can indeed be used for this purpose, then the Republic of Cyprus could save 5 to 6 months from the tests that would have been conducted after the completion of the terrestrial infrastructure, which is estimated to be finished by the summer of 2024.
