Negotiations but with a timetable for the completion of the terminal in Vasilikos – “We will exhaust every dialogue, every means of dialogue and if it doesn't end up somewhere, then unfortunately we will have to make some painful decision” the Minister of Energy said today
The will of the Government to exhaust every means of dialogue, but at the same time and its readiness to even terminate the contract with the Chinese consortium, the Minister of Energy conveyed today, answering questions about the liquefied petroleum storage and dehydration terminal natural gas (LNG) in Vassiliko.
As is known, the consortium of contractors and ETYFA are in an arbitration process in a London court, following the submission of a relevant request on behalf of the project contractor from 17.2.2023, while due to the financial demands they put forward, the Chinese have for days stopped any construction work in the area.
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Timed negotiations
The Minister of Energy Giorgos Papanastasiou, who in recent days has been talking even about painful decisions that mean nothing more than the termination of the contract with the consortium, today in his statements referred to negotiations on which the outcome of the project will also depend.
“ETYFA, DEFA and others” extension the Republic of Cyprus, we have studied all scenarios and are ready to take even more extreme solutions which may end up in termination. We have internally decided what the schedule will be, within which we will exhaust every dialogue, every means of dialogue and if it doesn't end up somewhere, then unfortunately we will have to make some painful decision. strong>
Called to comment on the financial demands from the consortium, the Minister spoke of an arbitrary move.
“It is an arbitrary move, while an arbitration is taking place in London. We recently received a list of requirements from the Chinese consortium and we are currently waiting,” he said.
