The European Commission demands €100 million from Cyprus government for failed gas terminal project
The European Commission is seeking €100 million from the Cyprus government for a failed liquefied gas terminal project that is currently under investigation for corruption. The project involved a €542 million contract to build the fuel import facility in Vasilikos, awarded to a consortium of Chinese companies China Petroleum Pipeline (CPP) and Hudong-Zhonghua Shipbuilding, Norwegian Wilhelmsen Ship Management, and British Metron.
The aim of the project was to reduce Cyprus’ dependency on imported crude oil and was supposed to be completed by 2019. However, it has been plagued by delays, leading to the current investigation for corruption.
Deadline Extension for Funding Deal
The deadline for a major funding deal has been extended to 2022 and beyond. The deal fell through on July 18 due to accusations of the consortium not meeting its contractual obligations. CPP has taken the matter to the International Arbitration Court in London in an attempt to force Nicosia to return over 200 million euros. Meanwhile, the agency responsible for climate, infrastructure, and the environment in the European Union (CINEA) has sent a request to the Cypriot government on July 24 to provide explanations by September on how it has utilized funding from European funds.
Investigation into Cyprus Gas Terminal Project
The European Public Prosecutor’s Office (EPPO) has announced that they have initiated an investigation into a project for a liquefied gas terminal in Cyprus, suspecting fraud in public procurement, misuse of EU funds, and corruption.
According to official Cypriot representatives, Nicosia has already received 69 million euros out of a total of 101 million euros in grant funding for this project. The Cypriot Minister of Energy, Georgios Papanastasiou, has requested 30 days to respond to the allegations.
The Risk of Recent Events
During a meeting on July 30, it was stated that the recent developments regarding the issue “put the country at risk”. Last week, Cypriot President Nikos Christodoulides commented that the previous government should not have chosen a consortium for the project. However, he emphasized that “the project will be carried out”.
EPPO Investigation Underway
EPPO, responsible for investigating and prosecuting crimes against the financial interests of the EU, reported that their investigation had begun following the publication of a report by the National Audit Office in January.
European Prosecutors Investigate Cyprus Service Contracts
The European Public Prosecutor’s Office (EPPO) has launched an investigation into service contracts in Cyprus following information provided by the authorities. The EPPO decided to initiate the investigation after receiving detailed information about contracts signed by state agencies, as reported by the European Prosecutor’s Office.
In a 142-page report, national auditors in Cyprus raised multiple questions and concerns about delays, escalating costs, and the quality and safety of the project. The service recommends that the contract be withdrawn from the consortium.
Challenges in the Natural Gas Infrastructure Project in ETYFA
The infrastructure for natural gas in the country of ETYFA faces challenges due to the urgent need for the terminal. The consortium involved in the project has requested an additional 25 million euros to cover increased costs for steel. This request was approved by the finance ministry against the recommendations of auditors. ETYFA has also waived its right to seek damages from the contractors due to unjustified delays. However, on July 18th, the Cypriot company withdrew from the project, citing in an official statement
Contract Violations Lead to Legal Action
Despite all efforts, a consortium led by Chinese companies has been accused of a “series of breaches” of the contractual terms, leaving no choice but to terminate the agreement and initiate legal action against the contractors. The accusations of non-payment under the contract have been strongly denied by official representatives in Nicosia, stating that ETYFA has diligently fulfilled its contractual obligations. The Cypriot finance minister has announced that a new tender procedure will take place in the coming days to ensure the project’s completion.
How to Achieve Your Goals in Eight Months
Setting and achieving goals can be a challenging but rewarding process. By following a few key steps, you can increase your chances of success and accomplish your goals in a relatively short amount of time.
Set Clear and Specific Goals
The first step in achieving your goals is to set clear and specific objectives. Instead of saying, “I want to lose weight,” try setting a goal like, “I want to lose 10 pounds in eight months.” This will give you a clear target to work towards and measure your progress against.
Create a Plan of Action
Once you have established your goals, it’s important to create a plan of action to help you reach them. Break down your goal into smaller, manageable steps and create a timeline for when you want to achieve each one. This will help you stay organized and on track as you work towards your objective.
Stay Consistent and Persistent
Consistency and persistence are key when it comes to achieving your goals. Make a commitment to work towards your objectives every day, even if progress is slow. Remember that small steps forward are still progress, and don’t get discouraged if you encounter setbacks along the way. Stay focused on your end goal and keep pushing forward.
Celebrate Your Achievements
As you make progress towards your goals, be sure to celebrate your achievements along the way. Reward yourself for reaching milestones and acknowledge the hard work and dedication that you have put in. This will help keep you motivated and on track towards achieving your goals in eight months or less.
