Vasiliko:The problems encountered in the past have been carefully considered in setting the criteria for selecting a contractor to complete the liquefied natural gas (LNG) import terminal in Vasiliko, according to George Pistentis, Chairman of the Board of Directors of the Natural Gas Public Company (DEFA).

According to Cyprus News Agency, the participation in the tender process is considered very satisfactory based on initial results. Evaluation of the companies that expressed interest in the project began immediately. Pistentis stated that the selection will be based on technical and financial criteria, including adequacy, experience, and financial solvency. The goal is to complete the pre-selection phase by the end of the year and award the contract before summer 2027.

The deadline for submitting interest expired on October 9, 2026, with eight companies expressing interest AVAX S.A., The Petroleum Projects and Technical Consultations Company (PETROJET), China Harbour Engineering Company Ltd., TERNA S.A., ECOnnect Energy, Saipem S.p.A., Baran International Ltd., and ARCHIRODON CONSTRUCTION (OVERSEAS) COMPANY LIMITED. Pistentis expressed satisfaction with the interest shown, indicating confidence in the capability of these companies to undertake the project.

The current phase involves assessing whether companies have the necessary competence and experience, without yet evaluating complete technical and financial offers. The next step is the submission of bids by pre-selected companies, based on set specifications and criteria. Both technical and financial parameters will be considered in the evaluation.

The tender process includes a pre-selection stage, followed by an invitation to submit bids. The deadline for sending these invitations is January 11, 2027, with efforts being made to ensure this occurs within 2026. The contract, valued at 180 million euros, is expected to be awarded based on the best price-quality ratio, with a duration of two years.

An Evaluation Committee is conducting the assessment and will report to the Board of Directors of DEFA - ETYFA Natural Gas Infrastructure Company (ETYFA) upon completion. Pistentis emphasized the process is being handled with confidentiality, and decisions will be announced as stages are completed.