Cypriot plans to import LNG are mired in controversy with the EU’s European Public Prosecutor Office (EPPO) on 25 July saying it has “opened an investigation into a project for a liquefied natural gas import terminal in Cyprus, on suspicion of procurement fraud, misappropriation of EU funds and corruption.”
Cyprus in 2018 snagged an €101mn EU grant towards the then-€500mn plans, of which €68.7mn has already been distributed. At the time Cypriot officials openly admitted that the configuration of the project – with the commissioning of a bespoke FSRU rather than the lease of an existing vessel – was designed to maximize the potential for snagging EU funds (MEES, 12 October 2018). (CONTINUED - 1029 WORDS)
