Cyprus & World News

Natgas supply bids “to take a few weeks” says Cyprus DEFA

13 May, 2014

The evaluation of bids for a 10-year supply of natural gas for power generation, issued last January, will take a few weeks more, the state-owned Natural Gas Public Company (DEFA) said in an announcement, adding that the financial proposals have not yet been opened.
Four bids were launched in January and submitted to DEFA by the mid-April deadline.
“The evaluation is carried out with support from DEFA’s advisors and it is envisaged to take few weeks to be concluded,” DEFA noted.
DEFA said “the financial proposals received in response to its Invitation have not been opened and remain closed in a secure place”.
In the next stage of the evaluation the likelihood of a reduction in overall generation costs, will be examined, among other key elements, it added.