The Jerusalem Post: Leviathan gas reservoir partners bid on Cyprus gas supply project
The Leviathan reservoir partners have submitted a bid to supply gas through a pipeline from the Israeli Eastern Mediterranean basin to Cyprus, they announced in a Tel Aviv Stock Exchange report on Wednesday.
Responding to a tender issued by Cypriot Natural Gas Public Company (DEFA), the partners submitted their bid on Monday, they said. The tender calls for the supply of between 0.7 and 0.95 billion cubic meters of natural gas annually to the Cypriot market through two delivery routes, one that will begin supplying the resource in early 2016 and the other in no later than the second half of 2017. Initially concluding at the end of 2022, the tender includes a possibility of three one-year extensions through the end of 2025.
Although Cyprus has a natural gas reservoir of its own in the Eastern Mediterranean and further exploration is ongoing, the tender allows for a short-term supply of gas needed at the Vasilikos Power Station, according to DEFA. The Vasilikos Power Station is located on Cyprus’s southeastern coast, between Larnaca and Limassol and has an installed capacity of 640 megawatts. All in all, DEFA has received four proposals for the tender.