Cyprus Reveals Bids for FSRU

A tender launched by Cyprus for the supply of a floating storage and regasification unit (FSRU) for importing LNG has attracted bids from three international consortia.

Cyprus’ state-owned Natural Gas Public Co. (Defa) reported the completion of the first stage of the contest on July 17. It said it had received offers to design, build and operate the vessel from a group comprising China Petroleum Pipeline Engineering (CPP) and Greek firms Aktor and Metron; a second involving South Korea’s Samsung C&T and Posco E&C, and Japan’s Mitsui OSK Lines and Osaka Gas; and a third consisting of Monaco's Gaslog, a unit of Spain’s Enagas and Italy’s Snam.

The FSRU, which will be placed near the city of Limassol, is scheduled to start up in 2021. Cyprus invited expressions of interest (EoI) to supply the vessel last month, and plans to select a contractor in October.

The project has secured a €101mn ($113mn) grant from the EU, while its total cost is estimated at €250mn ($278mn).