Philenews

Auditor General: We are Concerned and Investigating Terminal, Prometheus, EAC and GSI

Published January 2, 2026, 11:17
Auditor General: We are Concerned and Investigating Terminal, Prometheus, EAC and GSI

The Auditor General Andreas Papakonstantinou stated that the Audit Office is closely monitoring and investigating a series of important projects and organizations, including the natural gas terminal, the floating LNG regasification unit Prometheus, the electricity interconnection, the EAC (Electricity Authority of Cyprus) and the GSI (Government Semi-Government Organizations). The concern focuses on delays, contradictions and lack of transparency. Regarding Prometheus, the Audit Office had planned to send inspectors to Malaysia for inspection, but the mission was postponed after assurances of timely delivery. Given that the deadline has passed, the Office will request an update and consider sending an inspector. Concerning the electricity interconnection, Mr. Papakonstantinou expressed concern about the simultaneous recognition of the project as strategically important and the simultaneous request for an update study. He believes that the electricity interconnection will enhance competition and benefit consumers. Finally, the Audit Office is investigating the EAC's delay in the construction of Renewable Energy Parks, compared to the private sector. The EAC claims it faced obstacles from CERA (Cyprus Energy Regulatory Authority) and the previous government, which put it at a disadvantage compared to private entrepreneurs. All investigations are ongoing.

Share:
Read Full Article on Philenews

You Might Also Like

Back to News