Technip Requests Time to Review Vasilikos Terminal Design

Technip, the recently appointed project manager for the Vasilikos natural gas terminal, has requested and been granted additional time to assess the technical design of the jetty and onshore infrastructure developed by China's CPP. This is required before Technip provides its final recommendations on critical next steps, including preparing tender documents.

Technip is tasked with determining whether ETYFA can trust and assume full responsibility for CPP's design, material and equipment choices, and other decisions made by CPP as the contractor before the contract termination. Technip considers a re-evaluation of the design (FEED), and its completion where gaps exist, essential to attracting serious contractors to complete the project.

Technip is expected to present its views on the existing FEED around mid-September. If only additions are needed, the preparation of the documents for the call for expression of interest will proceed. If modifications are required, additional time will be needed.