The installation of the components on LNG tanker Prometheus is expected to be completed by the end of November or early December, natural gas infrastructure company Etyfa president George Ashikalis has said.

The next step will be for Prometheus to be sent to a terminal to be certified as a floating storage and regasification unit (FSRU).

Ashikalis told the Cyprus News Agency that Cyprus flag Prometheus is intended to be used as an FSRU, eventually connected to Vasilikos terminal, to provide Cyprus with natural gas.

The vessel sailed from Shanghai on December 14, 2024, and has been anchored in a Malaysian port since Christmas Eve 2024. In May, it underwent an inspection by Etyfa’s engineers and has been waiting for its new components ever since.

Works on Vasilikos terminal have been put on hold, after the termination of the contract. The project is under investigation by the Europea public prosecutor’s office (Eppo).

In the meantime, Brussels has demanded the repayment of €67 million in EU funding the project has already received.

Ashikalis told CNA that the terminal where Prometheus will undergo FSRU certification will depend on the gap analysis being conducted by the project manager regarding Vasilikos terminal, which is expected to be delivered on December 19.

He added that all necessary components are finally ready and on the ship awaiting installation, a development he described as “very important”.

Ashikalis said the installation of the components is expected to be completed by the end of November or early December, at which point the vessel will be ready to sail to a terminal for certification as a floating gas regasification or liquefaction unit.

It will either be sent to Vasilikos, depending on whether it is nearing completion, or another terminal abroad will be found.

He explained that this was necessary to verify in practice that the vessel could maintain natural gas at -160C without it evaporating.

Ashikalis said it was important that the vessel, which constitutes the heart of the entire system and “our largest expenditure”, amounting to €200 million, will soon be ready.