LNG project in Cyprus awarded €150 million funding

June 18, 2020

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The European Investment Bank (EIB) has approved €150 million to fund the construction of the LNG project in Cyprus, which will be built by the Natural Gas Infrastructure Company (ETYFA) at a total cost of €289 million. ETYFA has already secured a €101 million grant from the European Commission through the Connecting Europe Facility (CEF) and €43 million from the EAC’s participation in ETYFA’s share capital. Following this decision works will commence in the Vasilikos area.

Edited from DEFA’s press release