Cosco announced that the first FSRU for Cyprus has begun at Cosco Shipyard. The vessel is preparing for trials before departing for the Mediterranean.
FSRU project has a price tag of $315 million and is aforementioned to be the greatest in cypriote narration and testament be the island’s fundamental speculation into LNG. This project is going to be completed till 2044.
The 72,780 dwt LNG carrier built in 2002 as the Gria will be permanently docked less than a mile off the coast of Limassol, Cyprus in Vasilikos Bay, informed Cosco Shipping Heavy Industry.
The project plans to directly connect the vessel to the Vasilikos power station.
The European Bank for Reconstruction and Development, provided $95 million of funding to acquire the vessel for conversion. According to the Bank, this project will replace heavy fuel oil used at the power plant. In addition, European Union provided an additional $120 million of funding for the project.
According to Cosco, the project begun in October 2021. In addition to the capability to handle LNG coming from large tankers with a capacity between 120,000 and 217,000 cbm, the conversion is installing a dual power system that will permit the vessel to be powered from the LNG onboard. It also has a backup capability to switch to diesel power in an emergency.
The second phase of the dry dock operation began on February 17. They were installing a ballast pipe, outboard pipe in the engine room, renewal of bottom plate, and other projects including sandblasting and painting the vessel.
The project is the latest example of the strong demand for FSRU units and the conversions currently underway to build LNG infrastructure.
