In a significant milestone under the Belt and Road Initiative (BRI) cooperation, China has delivered its first floating storage and regasification unit (FSRU) for liquefied natural gas (LNG) to Cyprus. This development, which took place on a Tuesday, marks China’s entry into the LNG carrier refitting market and signifies a crucial step in Cyprus’s efforts to reduce carbon emissions.
A Symbol of Strengthening Ties
The delivery of the FSRU, named Etyfa Prometheas, is a testament to the strengthening ties between China and Cyprus. It is a product of the technical expertise of CHI Shanghai, a unit of Cosco Shipping. The vessel, which was converted from the 2002-built LNG carrier Galea, is the first Moss tank type LNG carrier to be converted to an FSRU in China. This delivery not only represents a pioneering achievement for China but also highlights the importance of international partnerships in achieving both economic development and environmental conservation.
FSRU: A Key to Cleaner Energy
The FSRU serves as a mobile LNG receiving and regasification platform. It is equipped with four regasification units, each with a capacity of 105 mmscfd. This vessel will supply clean natural gas to the Vasilikos Power Plant in Cyprus, signaling a crucial shift towards cleaner fuels. It is expected to reduce carbon emissions by 30 percent, thereby aligning with global environmental objectives and Cyprus’s own sustainability goals.
Opening New Business Avenues
The delivery of the FSRU to Cyprus also signals China’s entry into the LNG carrier refitting market. This development opens up new business avenues and opportunities for collaboration in the energy sector. However, the completion of the LNG import facility in Cyprus has been delayed, with the project now expected to be completed in the second half of this year.
In conclusion, the delivery of China’s first FSRU to Cyprus is a significant step under the BRI cooperation. It not only represents China’s entry into a new market but also exemplifies the strengthening ties between China and Cyprus, highlighting the importance of international partnerships in achieving economic development and environmental conservation.
