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President of DEFA: In the first half of 2023 electricity production with natural gas

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President of DEFA: In the first half of 2023 electricity production with natural gas

The project of developing infrastructure for the import of liquefied natural gas in Vasiliko is in the process of implementation. As stated by the Chairman of the Board of Directors of the Public Natural Gas Company (DEFA) Symeon Kassianidis, the project is expected to be completed in early 2023, so that the electricity generation with natural gas can operate within the first half of 2023.

Speaking at a press conference, Mr. Kassianidis said that despite any delays and problems due to the pandemic conditions, Cyprus is still in a very reasonable context. Stating that the total cost to complete the project is around € 300m, he said that after the cost was re-checked due to a pandemic, no additional costs have arisen so far. He also said that DEFA's goal is to push the completion of the project as soon as possible.

He added that while the project is progressing normally, DEFA is staffing and the letters of recruitment of new staff are currently being prepared, with five positions that have been announced. At the same time, the bill for the transformation of DEFA into an organization under public law is being promoted.

As for the increase in gas prices internationally and when asked if it is a problem, he said that he is generally concerned, however it is expected that the increase in the price of gas, which is due to external factors, will decrease after Christmas. He also noted that the most important thing is that in Cyprus gas is for the replacement of liquid fuels and the price is determined based on the Brent Index, which has not varied so much compared to prices in Europe.

Regarding the benefit that the consumer in Cyprus will have from the import of natural gas, Mr. Kassianidis noted that in fact the project of import of natural gas in Cyprus has multiple benefits and it should be considered what the cost would be in case of non-implementation. He referred to the cost of carbon dioxide emissions, which five years ago was $ 10 and now has gone up to 63 euros and may go up to 120 euros. So, he said, “if we continued to burn fuel oil, what we pay today for pollutants would double,” and now there will be a reduction.

He also said that in all the countries where natural gas has been imported, there is a greater penetration of Renewable Energy Sources, since natural gas is better combined with RES, which is beneficial for the environment. It is also, as he said, lower fuel costs, while there are benefits from the opening of the electricity market. He expressed the belief that all this will contribute not only to the theoretical level but also to the practical reduction of prices for the benefit of the world.

It is noted that the term of the current board of directors of DEFA ends on the 16th of the month.

DEFA will proceed with an account of its work next Thursday in the framework of the International Event EMC 2021 – Eastern Mediterranean Conference & Exhibition.


Source: politis.com.cy

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