Parliamentary committee discusses risks to Cyprus energy security due to Vasilikos project delays

On Thursday, the parliamentary Committee on Energy held a closed-door meeting to discuss the 2024 Audit Office report regarding the liquefied natural gas terminal at Vasilikos. The discussion highlighted concerns about the project's incompletion and its long-term impact on Cyprus's electricity supply. Legislators warned that the country risks facing electricity shortages by 2030, as 720 megawatts of capacity at the Dhekelia and Vasilikos power plants must be decommissioned by the end of 2029. Stephanos Stephanou, Secretary General of AKEL, labeled the situation a major scandal and noted that between 2018 and the first half of 2025, Cyprus paid 1.2 billion euros in carbon emission costs. The committee session was held behind closed doors due to ongoing legal proceedings against the Natural Gas Public Company (DEFA). While AKEL criticized the Christodoulides administration for its handling of the issue, other MPs emphasized the urgent need for clear government action to stabilize the power grid. The project is also reportedly under investigation by the European Public Prosecutor's Office.