The government is facing pressure to explain a potential tripling of costs for the Vasilikos liquefied natural gas (LNG) terminal, as MPs on Tuesday branded the stalled project a “scandal” and a “ticking bomb.”
During a heated session of the House Energy Committee, opposition leaders warned that the final bill for the terminal—originally budgeted at €315 million—could now soar to €1 billion.
The session devolved into a sharp confrontation between lawmakers and representatives of the Natural Gas Infrastructure Company (ETYFA) over the non-disclosure of consultant fees and legal strategies.
Committee Chairman Kyriakos Hadjiyiannis accused officials of “obsessively” withholding information regarding the identity and remuneration of legal advisers, mockingly telling ETYFA representatives they were in a “parliament and not a grocery store.”
The tension escalated when ETYFA Chairman George Ashikalis suggested that sensitive data previously shared with the committee had been leaked to the press, compromising ongoing arbitration proceedings in London.
Energy Minister Michalis Damianos attempted to lower the temperature by promising to submit detailed data in the coming days, including a technical study by the French firm Technip. However, the Minister admitted that the arrival of the Prometheus floating storage and regasification unit (FSRU) remains stalled, as the vessel cannot be brought to Cyprus until a jetty is constructed. He further noted that any potential chartering of the ship to third parties would require complex consultations with the European Union, while refusing to commit to new completion dates until a fresh round of tenders is processed.
The political fallout has seen AKEL General Secretary Stefanos Stefanou launch a scathing attack on both the current and previous administrations, holding the Christodoulides government responsible for failing to rectify “appalling agreements” made by its predecessors. While ETYFA insisted that legal fees had already been disclosed and that only confidential arbitration minutes were being protected, MPs from across the political spectrum, including DISY’s Averof Neofytou and DIKO’s Chrysis Pantelides, rejected the accusations of document leaks as “insulting” and “provocative.”
As the Law Office and the European Public Prosecutor’s Office (EPPO) continue separate investigations into the Vasilikos terminal and the Great Sea Interconnector, Minister Damianos confirmed there is no word on when these probes will conclude.
The committee is set to reconvene next week.
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