The project of the LNG terminal is still ongoing said President Nikos Christodoulides, on Tuesday, noting that he cannot elaborate on the matter, since discussions are still in progress.

While attending the 35th Annual General Assembly of the Cyprus Shipping Chamber in Limassol and responding to a reporter's question referring to a "disaster" after his meeting on Monday afternoon with the Chinese Ambassador on the subject, the President assured that "there is an ongoing discussion about which at this stage I do not want, nor is it appropriate, to say anything publicly."

"We are discussing with a single objective, to implement a project of strategic importance for the Republic of Cyprus, which has already been delayed, (since) two extensions have already been granted," he said.

President Christodoulides noted that, if necessary, there will be several meetings on the issue.

"We are approaching this discussion with a view, on the one hand to implement a strategically important project of the Republic of Cyprus and on the other hand to safeguard the interests of the state. Because the state, the government, operates, negotiates, approaches issues, with a single objective, to serve the interests of the Cypriot people", he added.

He clarified that Monday's discussion was exclusively on a political and diplomatic level. "I am not conducting technical negotiations. If the need arises, (discussions) will continue", he said.

The Chinese CMC consortium, in charge of the project, has filed a claim for €200 million against Cyprus at the London court of arbitration, claiming the incurring of higher costs and the alleged failure of the project manager, Etyfa, to carry out its contractual obligations.