Cyprus parliamentary committee reviews delays in Vasiliko natural gas terminal

On Thursday, the Parliamentary Audit Committee of Cyprus held a closed-door meeting to discuss the 2024 Audit Office report concerning the Vasiliko LNG terminal project. Concerns were raised regarding the potential for electricity supply shortages by 2030 due to the project's non-completion. The discussion took place behind closed doors due to ongoing legal proceedings against the Natural Gas Public Company (DEFA). AKEL General Secretary Stefanos Stefanou characterized the project as a major national scandal linked to both the former Anastasiades government and the current Christodoulides administration. He cited that 1.2 billion euros have been paid for carbon emission permits between 2018 and the first half of 2025, contributing to high electricity costs. Stefanou argued that the inability to introduce natural gas, currently under investigation by the European Public Prosecutor's Office, continues to place a heavy financial burden on the country. Furthermore, he criticized the current administration for failing to resolve the situation, claiming that new complications have exacerbated the risks to Cyprus's energy security.