Cyprus' Floating Storage and Regasification Unit (FSRU) 'Prometheus' is expected to depart from Shanghai within hours, Energy Minister George Papanastasiou said on Friday.

Replying to reporter’s questions on the sidelines of the inauguration of the Ahera Photovoltaic Park by the Electricity Authority of Cyprus (EAC), the Minister confirmed the vessel’s imminent departure.

Minister Papanastasiou said that after leaving Shanghai, the "Prometheus" will head to another destination to undergo certification as a floating gasification unit. He added that discussions were underway to deploy the unit temporarily at another location until the infrastructure at Vasilikos in Cyprus is ready.

EAC Chairman and Natural Gas Infrastructure Company (ETYFA) Vice President Geroge Petrou highlighted that final preparations were being made for the vessel’s departure, including obtaining the necessary certifications. "If everything proceeds smoothly and water levels rise, the vessel may set sail for Singapore as early as tomorrow morning," he noted.

No significant obstacles for Great Sea Interconnector (GSI) project

Addressing concerns about potential challenges in Cyprus' involvement with the Great Sea Interconnector (GSI) project, Papanastasiou clarified that the project was progressing as planned. He reminded Cyprus' political and financial support, including an annual contribution of €25 million for up to five years, capped at €125 million.

The Minister also said that Cyprus has access to European funds that could be used to become a shareholder in the project, though this would depend on meeting specific conditions. He noted that a commissioned evaluation study conducted a cost-benefit analysis and suggested amendments to documents provided by the project’s implementing body, ADMIE.

Papanastasiou dismissed reports of significant delays or issues with the project. On the question of Cyprus’ involvement without ownership, the Minister remarked that this is one of the considerations under discussion. He stressed that any financial contribution from Cyprus should ensure proportional ownership, reflecting its capital investment.

He expressed optimism that continued collaboration between Cyprus and Greece, fostered by their memorandum of understanding, would lead to solutions for all outstanding issues raised by the evaluation.