The contract between ETYFA and the CPP-METRON Consortium Ltd (CMC Ltd) for the construction of the Vasilikos liquefied natural gas (LNG) terminal is coming to an end, Energy Minister George Papanastasiou announced today in Parliament.

Speaking during a briefing of the Parliamentary Committee on Energy, Mr. Papanastasiou stated that both parties are moving towards contract termination, with ETYFA exploring other methods to complete the project. The Energy Minister explained that "the numerous extensions granted to the consortium indicate a lack of progress towards project completion."

The Energy Minister also informed that negotiations with the manufacturing company for the deployment of the floating unit are in their final stage. ETYFA aims to have the ship set sail as soon as possible, while simultaneously terminating the contract.