Over the past few years, the Republic of Cyprus has allocated more than €22 million for legal and advisory services related to the Vasilikos LNG import terminal.

According to information submitted by the Natural Gas Infrastructure Company (ETYFA) to the Parliamentary Committee on Energy, nearly €12 million of these expenses were paid to external engineering consultants. Additionally, €7 million was allocated to legal and advisory services for an ongoing arbitration case with the Chinese firm originally contracted to construct the facility.

Another €2.7 million was spent on fuel, insurance, and personnel costs related to freeing the LNG vessel Prometheas from a Shanghai shipyard and preparing it for its journey to Malaysia.

The Parliamentary Committee on Energy reviewed these financial details following a request from its chairman, DISY MP Kyriakos Hadjiyiannis. He sought clarification on the consultants involved, their roles, payment schedules, and the specific services they provided for both the LNG terminal’s construction and the release of the Prometheas.

Following the termination of the EPCOMA contract with the Chinese consortium in July 2024, officials confirmed that no further payments have been made for the project’s onshore segment or jetty. Meanwhile, ETYFA has begun awarding two new contracts to complete the terminal, targeting completion by the end of the year.

During discussions, it was revealed that the Ministry of Finance is reviewing a request for an additional €200 million to finalize the Vasilikos LNG terminal.

ETYFA emphasized that its primary focus remains on delivering a fully functional import terminal, while the arbitration proceedings in London with the former contractor continue.