SFS wants Cyprus to import compressed natural gas

SFS Group Public (SFS) urged the Cyprus government to switch plans for importing Liquid Natural Gas (LNG) to Compressed Natural Gas (CNG), saying it would be more economical and faster.

The public listed company said it was ready to cooperate with the government on bringing CNG to Cyprus, and is also opening a debate on the issue next week, with the participation of three CNG experts.
“We are looking into the issue from the shipping point of view as regards the liquefied form and the compressed form,” said Christodoulos Ellinas, the Chairman and Chief Executive of SFS.

Demos Petropoulos, the manager of Shipping Investments, said it was well known that almost all Cyprus’ needs in electricity were met through the use of fuel.
“This means Cyprus is among the countries with the highest cost of electricity in Europe,” he said.
Petropoulos said CNG as opposed to LNG, was more practical to the island’s needs. He said that when it came to transportation of the gas, it was better to choose LNG when it came to longer distances – over 2.500 miles – but CNG was a better option in distances of 1,000 miles or less.
“This means that it’s more economical for Cyprus, since its distance from Egypt or Libya – two countries from which we might import natural gas – is short,” he said.
Petropoulos said CNG could be transported to Cyprus for between $1.38 and $2.00 per Million British Thermal Units (MMBtu) compared to $4.10 to $5.20 MMBtu for LNG. He also said LNG needed more storage space than CNG.
“The adoption of CNG technology is 25 per cent less costly than that of LNG for a country such as Cyprus,” Petropoulos added.
The SFS debate on the issue will take place on Wednesday at the Hilton Park from 6pm to 8pm.The three speakers will focus on the advantages and disadvantages of both CNG and LNG, CNG as a safe reliable and economic alternative and the issue of the availability of transport for CNG. The debate will be opened by House President Marios Garoyian.