In a statement on Thursday, DEFA said it would relay the remaining bidders’ final financial and commercial offers to the Energy Minister.

“DEFA is bound by confidentiality agreements and will not disclose further details at this stage,” the statement added.

The DEFA tender calls for the supply of between 0.7 and 0.95 billion cubic metres of natural gas annually to the Cypriot market through two delivery routes. One route will begin supplying gas in early 2016 and the other no later than the second half of 2017.

DEFA is by law the sole importer and distributor of natural gas in Cyprus. Once it concludes a deal for natural gas with a supplier, DEFA will then sell the fuel to the power company.

Cyprus is reliant on heavy fuel oil imports for electricity generation, and wants to switch to the cheaper natural gas. The call for the tender was issued in January 2014. It is the second tender in a row, the first having been scrapped in October 2013.

Source: Cyprus Mail