Insider Business DEFA sees keen international interest in Cyprus’ energy market

DEFA sees keen international interest in Cyprus’ energy market

The first stage of Cyprus’ Gas Company’s (DEFA’s) tendering process for the supply of liquefied natural gas (LNG) has been completed, recording considerable interest from the international markets.

According to DEFA, 25 suppliers, among the most dominant in the global LNG market, are seeking to supply gas to the Gas Company and have submitted the prerequisites to qualify for the next stages of bidding and negotiation.

“The intense market competition for LNG supplies confirms that the strategy to acquire an FSRU was a decision toward the right direction” it said in an announcement.

Bidders / suppliers claiming their participation in the next stages of bidding and negotiating are: Gunvor International B.V. Amsterdam, Naturgy LNG Marketing Limited, Centrica LNG Company Limited, Endesa Energia S.A., Cheniere Marketing International LLP, Equinor ASA, Novatek Gas & Power Asia Pte Ltd, Shell International Trading Middle East Ltd, Enel Global Trading, Eni Trading & Shipping S.p.A., Total Gas & Power Asia Private Ltd, Osaka Gas Kabushiki Gaisha, Powerglobe LLC, Repsol LNG Holding S.A., Petronas LNG Ltd, BP Gas Marketing Limited, Vitol SA, B.B. Energy (ASIA) Pte Ltd, Mytilineos S.A., Uniper Global Commodities SE, Marubeni Corporation, SONATRACH and Public Gas Corporation (DEPA) S.A., Eni SpA (Gas & LNG Marketing and Power), Glencore Energy UK Ltd and Mitsui & Co. Ltd.

DEFA, following customary international practice for the supply of LNG, launched an open call for Expression of Interest in June 2019. Through this process, DEFA shall pre-qualify and proceed to contract with the LNG suppliers for the procurement of both “spot” cargoes and basic quantities of gas. DEFA is expected to proceed to this next stage of the process at the beginning of the New Year

“Turning to natural gas is not only our national strategy but also our European commitment to meeting the environmental and energy goals set by the European Union. The fact that the competition has resulted in numerous and high-profile entries, makes us optimistic that we will also obtain competitive pricing,” said DEFA President Dr. Symeon Kassianides.

With regards to the outcome of the evaluation of the tender for the construction and operation of the LNG infrastructure at Vassilikos, no challenge within the deadline was raised with the Tender Review Authority. As scheduled, the Natural Gas Infrastructure Company (ETYFA) shall invite the first ranked consortium to sign the contract in the very near future, the announcement concluded

(Cyprus News Agency)

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