The Cyprus LNG terminal project reached a significant milestone as the Floating Storage and Regasification Unit (FSRU) Prometheus, developed by a consortium led by China Petroleum Pipeline, successfully completed modified gas mode sea trials. This development positions the terminal for its anticipated launch in July 2024.

The FSRU Prometheus, originally an LNG carrier converted for its new role in China earlier this year, initiated its first sea trials on July 23, 2023. The latest sea trials, conducted in modified gas mode, concluded on October 27, covering a span of twelve days and 2,200 nautical miles. Notably, all test data met the specified design requirements.

The FSRU is a crucial component of the LNG terminal situated at Vassiliko Port in Cyprus. The consortium responsible for the project, which includes China Petroleum Pipeline, Wilhelmsen Ship Management, Aktor S.A., Metron S.A., and Hudong-Zhonghua Shipbuilding, was selected for the construction of the LNG import terminal. This comprehensive project encompasses the FSRU, a jetty designed for FSRU mooring, jetty-borne and onshore pipelines, and additional facilities.

Initially slated for completion in 2021, the €300 million project received co-financing of up to €101 million from the European Union’s Connecting Europe Facility (CEF) financing instrument, constituting 40% of the total cost. However, media reports suggest that the project's delivery timeline has been adjusted to July 23, 2024, marking the fourth consecutive schedule adjustment and the third revised schedule submitted.