VTT Vasiliko terminal in Cyprus will undergo €150 million expansion

Two projects costing €150 million are planned at the Vasiliko storage terminal in Cyprus for VTT Vasiliko (VTTV), which is a subsidiary of Dutch energy trader VTTI.

At the site there is a project underway to build a small, private LNG terminal, costing €15-20 million, which it said will serve the local market and export to nearby markets, such as Lebanon.

VTTV CEO George Papanastasiou said the existing jetty can be adapted for Cyprus’ upcoming floating storage and regasification unit (FSRU).

At present, the VTTV terminal has 28 tanks with a total storage capacity of 545,000 m3, storing diesel, gasoline and jet fuel, a deep-water marine jetty, and road tanker loading facilities. It was completed in November 2014 at a cost of €300 million.

Papanastasiou said that the second, larger project, costing €120-130 million, will increase the storage capacity to store the Euro-spec output of a major regional refiner to supply European markets.

For more information visit www.vtti.com

23rd October 2020