Cyprus seeks the go ahead from the EU for an infrastructure project in Vassilicon, Limassol, which would pave the way to import liquefied natural gas from abroad using a floating platform.
The application was submitted on October 12 and it is a matter of months before a decision is announced, sources say.
The goal, is for Cyprus to import natural gas on a permanent basis to fulfil the needs of its local market as of 2019 – 2020, while at the same time enhancing the security of its energy supplies.
According to the same sources, a study has shown that the floating platform would be the best solution at hand. If, as expected, the project’s funding is secured, then DEFA, the natural gas public company of Cyprus, would go ahead with a tender process to secure a supplier.
The process will proceed in parallel and independently with efforts to exploit the hydrocarbon reserves within Cyprus’ EEZ, the sources add.
The aim is for the Republic of Cyprus to have a secure energy supply even in the event at some point in the future of an interruption of supply from its own reserves.
The same sources say that the effort undertaken on the part of Cyprus, which seems to be bearing fruit, is for European circles to realise that Cyprus is sui generis case in the matter of its electricity market and therefore needs tailor made solutions.
Cyprus is the only member state which is isolated energy wise, it is an island and it also has specific particularities such as an intense tourist industry which together with the seasonality effect means that it has great electricity needs at particular times of the year.
