Wednesday, June 03, 2015

Submission of Best and Final Offer in the Open Competition of DEFA

Press Release

M&M Gas, a joint subsidiary of MYTILINEOS Group and MOTOR OIL, submitted yesterday, 2/6/2015, its Best and Final Offer in the framework of the Open Competition conducted by the Natural Gas Public Company of Cyprus (DEFA), with the title "Invitation for Supply of Natural Gas to DEFA for Power Generation".

M&M Gas is leading a consortium which also includes Trafigura, one of the world's leading commodity trading firms, and METKA, an ATHEX-listed subsidiary of MYTILINEOS Group. The consortium is one of the two candidates short-listed by DEFA to participate in the final bidding, following the evaluation of the technical and financial offers, which has already been completed.

The project tendered involves the construction of infrastructures (a) for the delivery of liquefied natural gas (LNG), (b) its regasification and (c) its transmission to the power generation facilities in Vasilikos. It also includes the supply of LNG to Cyprus for seven years (2016-2022), with an option for extension until 2025.

According to the tender procedure, the appointment of the preferred bidder is expected to take place in the immediate following period.



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