EAC – Vasilikos Energy Center Development – Cyprus - Project Profile
"EAC – Vasilikos Energy Center Development – Cyprus - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.
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The Government of Cyprus (GoC) through Electricity Authority of Cyprus (EAC) is planning to construct an energy center in Larnaca, Cyprus.
The project involves the construction of an onshore liquefied natural gas (LNG) import terminal with a capacity of 21 billion m3 (BCM) on 25km2 of land.
The Vasilikos Oil Terminal will include the construction of facilities for the storage of operational oil reserves, facilities for the storage of strategic oil reserves, and facilities to allow it to operate as an oil trading hub.
The project includes the construction of a gas processing unit, feed gas pipeline, vacuum chambers, distillation chambers, a storage facility and a regasification terminal, the installation of compressor units and valves, and the laying of transmission lines.
The project is planned to be implemented by a Joint Venture Company between EAC and the selected strategic partners and will be responsible for the establishment (development, financing, operation, and management) of the onshore LNG terminal at Vasilikos.
EAC with Mott MacDonald has concluded a consultation process to pre qualify potential strategic partners for participation in a joint venture company that will be responsible for the development, financing, operation, and management of the project.
Whessoe Projects Ltd has been appointed to conduct techno/economic study for the development of LNG option for power station expansion plan covering economic shipment scenarios, terminal capacity, receiving and regasification facilities, jetty, safety, and environmental impact.
MW Kellogg Limited (KBR, Inc), has been appointed as an engineering consultant, and Parsons Brinckerhoff Ltd. (PB) and Aeoliki Limited as environmental consultants for the project.
A memorandum of understanding (MoU) has signed between Cyprus and Noble Energy International Ltd (NEIL), Delek Drilling Limited Partnership (DDLP) and Avner Oil Exploration Limited Partnership (AOELP) to develop the project.
In April 2015, the project proposal was put on hold owing to the limited quantities of natural gas discovered thus far in its waters.
In the fourth quarter of 2016, the ministry has revived plans for development.
Planning activities are underway.
The project involves the construction of an onshore LNG import terminal with a capacity of 21BCM on 25km2 of land in Vasilikos, Larnaca, Cyprus.
The US$779 million project includes the following:
1. Construction of a gas processing units
2. Construction of feed gas pipelines
3. Construction of vacuum chambers
4. Construction of distillation chambers
5. Construction of a storage space
6. Construction of a regasification terminal
7. Installation of compressor units and valves
8. Laying of pipelines
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