EAC wants freedom in Cyprus to buy LNG

The Electricity Authority of Cyprus wants to be free to buy liquid natural gas (LNG) even before offshore exploration south of the island produce any results.
Chairman Haris Thrassou said that the EAC is ready to use LNG now, just as it had said it was ready to do since 2000.
He added that the Authority is also looking to invest in other projects involving alternative sources of energy, such as the solar thermal farm in Akrotiri that is expected to cost some 300 mln euros. Investments in other ventures, some of which have partnered with the EAC, are expected to reach 1 bln euros.
Thrassou said that Cyprus needs another two years before it can reach its pre-July 11 design capability of 1500 MW. He said that the disaster came at a time when the EAC had just about started implementing long-term plans for development and new investments that were already starting to bear fruit.
The EAC chairman added that the aim is for the least-damaged Units 4 and 5 at Vassiliko, with a joint output capacity of 440 MW, to resume production before the summer peak demand next year, while Units 1-3 should be back online before summer in 2013.