The problems that occurred in the past were taken into account when formulating the criteria for selecting the contractor for the completion of the liquefied natural gas (LNG) import terminal in Vasiliko, Chairman of the Board of Directors of the Natural Gas Public Company (DEFA) George Pistentis, has told CNA.
Based on the initial results, he added, the participation is considered very satisfactory.
The evaluation of the companies that expressed interest in undertaking the project has begun immediately, Pistentis said.
The selection, he went on to say, will be based on technical and financial criteria, including the adequacy, experience and financial solvency of the companies. He added that the goal is to complete the pre-selection phase before the end of this year with the award of the contract before the summer of 2027.
‘They took into account the experience of the past and the issues that arose, so that they do not happen again,’ he said and explained that the relevant criteria for the second phase are being prepared by the consultants in collaboration with the technical department of the organisation and the Public Procurement Authority.
The deadline for submitting interest expired on 9 October 2026. According to the published data of the Treasury of the Republic, eight companies expressed interest, namely AVAX S.A., The Petroleum Projects and Technical Consultations Company (PETROJET), China Harbour Engineering Company Ltd., TERNA S.A., ECOnnect Energy, Saipem S.p.A., Baran International Ltd. and ARCHIRODON CONSTRUCTION (OVERSEAS) COMPANY LIMITED.
Pistentis said that the evaluation began immediately after the completion of the process and that he is satisfied with the interest shown.
It seems, he continued, based on the names, that there are companies that can undertake the project. “We are satisfied with the interest shown,’ he noted.
He clarified that the current phase is not about the evaluation of complete technical and financial offers, as the companies have not yet received the relevant specifications. What is being examined at this stage, he added, is whether they have the required competence and experience to complete the project.
The next step is the submission of bids by the companies that will be pre-selected, based on the specifications and criteria that will be determined. He pointed out that the evaluation will not be limited exclusively to the financial aspect, since both technical and financial parameters will be taken into account.
According to the tender on the eProcurement platform, the process includes a pre-selection stage and then an invitation to the selected candidates to submit bids. The deadline stated on the platform for sending the invitations is January 11, 2027. The President of DEFA said that an effort is being made to ensure that this takes place within 2026.
The estimated value of the contract amounts to 180 million euro with a duration of two years. The award is expected to be made based on the best price-quality ratio.
As far as the timetable is concerned, he said that the aim remains to award the contract before the summer of 2027. The possibility of completing it earlier is not ruled out, he added.
Moreover, he said that the evaluation is being carried out by a special Evaluation Committee, which will present its report to the Board of Directors of DEFA – ETYFA Natural Gas Infrastructure Company (ETYFA) when it completes its work.
Concluding, he said that the process is being carried out with confidentiality and caution and the decisions will be announced when the planned stages are completed.