The Natural Gas Infrastructure Company is preparing bids for the next destination of the floating storage and regasification unit (FSRU) “Prometheus”, Energy Minister George Papanastasiou said on Tuesday. The ship will remain in Malaysia for an additional two to three months for essential modifications as it awaits delivery of critical components, the Minister said.
Speaking to journalists after attending a Parliamentary Energy Committee meeting, Papanastasiou explained that the vessel had recently left Shanghai, where it had been stationed for an extended period. Currently, it is undergoing inspections to confirm its readiness as a floating regasification unit (FRU). Once these checks are completed, the ship will head to a terminal for certification.
“Right now, inspections are being conducted, along with the sourcing of the necessary components for the ship to be operational as a floating unit. The next step is for the vessel to be certified at a terminal to verify its capacity,” Papanastasiou said. Certification, he noted, involves testing the ship’s ability to produce specified quantities of gas.
When asked about the terminal’s next destination, Papanastasiou clarified that the selection would result from ongoing bids being prepared by ETYFA. He added that the tender process will include the ship’s certification and, if possible, its interim use until the Vasilikos infrastructure in Cyprus is fully operational.
“Currently, ETYFA is focused on preparing the ship as a floating regasification unit, which is being carried out in the Malacca Strait region, near Singapore and Malaysia,” he noted.
Upgrades and costs
When asked how long the ship would remain in Malaysia and the cost of its modifications, the Energy Minister said that the vessel did not require extensive changes but needed two critical components. However, he noted that these components have long delivery times from the manufacturers. He expressed confidence that it would likely take another 2-3 months to install the components, which are part of a system essential for the ship to operate as a floating regasification unit.
Papanastasiou stressed that the additional costs were expected to be significantly lower than initially projected. However, he awaits a detailed report from a specialised firm to confirm the exact figures.
The “Prometheus” is part of a project funded by the European Commission and loans from two European banks. The Minister emphasized the importance of continuous engagement with financiers to secure their approval for the selected terminal location.
When asked whether EU funds for the natural gas infrastructure project had been lost, he stated that nothing had been lost and that consultations with the Commission were ongoing, with results expected very soon.
The “Prometheus” vessel that will enable LNG imports in the country, is a critical component of efforts to enhance Cyprus’ energy infrastructure,
The Vasilikos LNG project, aimed to establish a liquefied natural gas (LNG) import terminal, has encountered significant challenges in recent years, culminating in the termination of the original construction contract in mid-2024. Cyprus government is currently seeking solutions to overcome past setbacks and complete the project.
Source: CNA