DLA Piper advises Natural Gas Public Company of Cyprus on terminal
Published by Tom Mostyn,
DLA Piper has advised the Natural Gas Public Company of Cyprus (DEFA) on its tender process for the selection of the contractor for the design, construction, procurement, commissioning, operation and maintenance of an offshore LNG import terminal and associated infrastructure, located in Vasilikos, Cyprus.
DEFA announced today the outcome of its tender process, selecting as the first ranked tenderer a consortium led by China Petroleum Pipeline Engineering Co. Ltd, and includes AKTOR S.A., Metron S.A., [Hudong-Zhongua Shipbuilding Co. Ltd] and Wilhelmsen Ship Management Ltd. As per the terms of the announcement, the tender is for the next stage of the development of a natural gas market in Cyprus and that major companies involved in the European gas markets also participated in the tender process.
The DEFA Chairman, Symeon Kassianides, commented: “We are pleased to see the successful outcome of the process. Here at DEFA we believe that the future of the country is aligned with natural gas and we expect it to play a major role in the economic development of the country in years to come. The establishment of the natural gas market will boost the development of the whole energy and industry sectors of the Republic.”
Charles Morrison, who leads DLA Piper’s London Oil and Gas team, said: “This is a very significant development for the Republic of Cyprus and the future of its developing energy sector. We are very pleased to have been involved in what must be seen as an important step for the evolution of power generation in Cyprus. Our work on this deal demonstrates the strength of our specialist oil and gas lawyers, supporting DEFA as we have throughout this process.”
The outcome followed a lengthy and complex tender process overseen by DEFA and its external industry experts, amongst whom were highly experienced technical, legal and financial consultants. DLA Piper has been acting as lead member of the advisory team assisting DEFA with its tender proposal evaluation process.
The first ranked tenderer was required to satisfy a series of qualitative, quantitative and financial criteria, so as to be able to demonstrate an ability to perform at the high standards set by DEFA for the development of the project. It is expected that the first ranked tenderer will later this month be invited to finalise the contract in Nicosia with DEFA.
DLA Piper will continue to advise DEFA as the project enters into its next stage, finalising the contractual framework and assisting in securing the successful execution of the Project.
The LNG import terminal, the subject of the tender announcement, will be co-financed by a grant from the EU connecting Europe facility.
Read the article online at: https://www.hydrocarbonengineering.com/tanks-terminals/27082019/dla-piper-advises-natural-gas-public-company-of-cyprus-on-terminal/
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