The Minister of Energy, George Papanastasiou, reassured on Tuesday that all necessary actions and measures for the safety of the Vasilikos Energy Center, the Republic’s sole energy hub hosting critical energy infrastructure, have been promoted and are being implemented.

Speaking at an event marking the 10th anniversary of VTTI Cyprus, Mr. Papanastasiou emphasized that this project is among his top priorities. As the Chair of the Ministerial Committee for the Safe and Smooth Operation of the Vasilikos Energy Center, he coordinates the required actions to ensure its security and functionality.

Mr. Papanastasiou noted that, with the support of the European Investment Bank (EIB) through the European Investment Advisory Hub—a joint initiative with the European Commission providing advisory services for investment projects within the EU—progress is being made in developing a comprehensive management framework for the center.

“The outcome of this effort, expected by 2025, will be the establishment of an efficient organizational structure and governance framework for the Energy Center. This will ensure its smooth and secure daily operations while addressing challenges related to infrastructure and supply security in Cyprus,” he stated.

The Ministry is advancing the processes necessary to implement the conditions set in the Environmental Opinion issued in February 2023 during the review of the Spatial Development Plan for the Vasilikos area.

Additionally, the Cyprus Organization for Storage and Management of Oil Stocks (KODAP) recently signed a contract with the successful bidder for the design, construction, and maintenance of the Vasilikos Energy Center’s fire protection system. This system will operate as a supplementary fire safety measure alongside the systems of individual companies and terminals, Mr. Papanastasiou added.

Further, the road network in the area has been completed. Other significant actions under implementation include the construction of the center’s perimeter fencing, expected to be finalized in the first quarter of 2025, and the installation of electronic security systems to enhance coverage across the area.

The Minister highlighted the vital role of the company’s terminal in Vasilikos, Larnaca District, in advancing Cyprus’ energy sector.

“The establishment of this terminal positioned Cyprus as a regional hub for energy product storage and management in the Eastern Mediterranean, placing the island on the global energy map. It also laid the foundation for the evolution and upgrade of the Vasilikos Energy Center,” he noted.

He concluded by underscoring the terminal’s significant contribution to the Energy Center’s operations, as its facilities and private jetty cater to the needs of both the state, by maintaining oil reserves, and other companies.