Energy Minister Giorgos Papanastasiou is in active communication with the contractor for the project in Vasilikos.

As reported to Brief, Mr. Papanastasiou mentioned that the Ministry of Energy is in discussions with the Chinese consortium responsible for constructing the Vasilikos LNG terminal, aiming to find a solution to continue the work.

The Minister emphasized the priority is to reach a middle ground with the contractor and ensure they continue the work. This approach would result in the least possible delay under the circumstances.

However, Mr. Papanastasiou added that such an outcome depends on completing the discussions within a specific timeframe. Therefore, the Minister intends to set a schedule, within which an agreement must be reached. Otherwise, the Minister notes, the state will proceed with an alternative plan for the project's completion.

It's important to remember that the contractor has halted construction work, attributing delays to DEFA and simultaneously demanding €200 million in compensation.

According to the Energy Minister, the floating unit in China (Prometheus) is 95% complete and awaits certification.

The onshore terminal in Vasilikos, comprising two parts, is 70% complete (30% of the platform and 40% of the onshore installations). However, it is currently non-operational.

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Concurrent with the negotiations between the contractor and the Ministry of Commerce, the Committee on Control will continue the parliamentary discussion on this issue on Thursday (14/3).

>>Vasiliko LNG Terminal Case: Unjustified Delays, Project Cost Inflation, and State Inaction<

Beyond examining the agreement, the delays impact electricity bills and, consequently, consumer expenses. The arrival of Natural Gas is expected to reduce pollutants by 30%, translating into a €70 million benefit.