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European Commission Seeks Refund From Cyprus Over Vasiliko LNG Project Funding

by THEFUTURE.TEAM

July 29, 2024

In a significant financial and political development, the European Commission (EC) has demanded a refund of €68.6 million from Cyprus, a sum previously allocated for the Vasiliko liquefied natural gas (LNG) terminal project. The EC’s claim follows concerns over irregularities during the tender evaluation process and subsequent contract awarding to a consortium.

Irregularities and Contract Issues

The EC’s request centers around two primary violations: first, the criteria used in awarding the tender to the consortium comprising China Petroleum Pipeline Engineering Co. Ltd., Metron Energy Applications S.A., Hudong-Zhonghua Shipbuilding (Group) Co. Limited, and Wilhelmsen Ship Management Limited in December 2019. Second, issues arose with the signing of a bilateral agreement following an additional €25 million funding approval in June 2022.

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Government Response and Investigation

The Ministry of Energy, Commerce and Industry has acknowledged the EC’s concerns and is preparing to respond within the stipulated 30-day period. The ministry stressed its commitment to defending Cyprus’s interests and is cooperating fully with European authorities to investigate the matter. The government has pledged “zero tolerance” for any procedural lapses and is focused on completing the Vasiliko project.

Broader Implications

The Vasiliko LNG terminal, part of the Cyprus Gas 2 EU project, is a Project of Common Interest and has received significant European funding totalling €101 million. The project’s completion is crucial for Cyprus’s energy infrastructure and its alignment with EU energy goals.

This development underscores the importance of adherence to EU regulations and transparency in large-scale public projects. It also highlights the financial and operational risks associated with non-compliance, which can lead to substantial financial repercussions and potential delays in critical infrastructure projects.

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Cyprus: A Global Leader in Longevity and Healthcare Efficiency

by News Editor

May 9, 2025

In an eye-opening study conducted by renowned universities Brown and Harvard, Cyprus emerges as a global leader in longevity while maintaining low healthcare expenditures. The study, led by Cypriot professor Irini Papanikola, uncovers insightful data on Cyprus’s healthcare efficiency.

Key Findings

Published in the prestigious Journal of the American Medical Association Internal Medicine, the study highlights that Cyprus boasts some of the lowest mortality rates among high-income countries while ensuring affordable healthcare. This research has drawn significant attention, featured in media outlets across America and Europe.

Understanding Avoidable Mortality

The study examines avoidable mortality (deaths preventable through timely healthcare) across U.S. states and 40 high-income countries from 2009 to 2021. Remarkably, Cyprus presents some of the lowest avoidable mortality rates, showcasing the efficiency of its healthcare system even amid global challenges such as the COVID-19 pandemic.

Trends and Challenges

From 2009 to 2019, most high-income countries saw a decrease in avoidable mortality; however, this trend reversed for many, including Cyprus, during the pandemic years. The findings emphasize the critical role of robust public health systems in sustaining positive health outcomes.

The Path Forward

Despite the pandemic, Cyprus’s overall performance remains commendable. To achieve success, experts suggest addressing broader health determinants, focusing on preventive measures like road safety and mental health support through collaborative efforts.

Conclusion

Overall, Cyprus stands out as a beacon of healthcare efficiency, managing to reduce avoidable mortality with relatively low costs. This achievement underscores the country’s adeptness in providing high-quality healthcare, although continued research into population needs is vital for ongoing improvements.