Can Vasilikos LNG import project still achieve its original objective?

When Cyprus approved the Vasilikos LNG import project in 2019, the rationale appeared compelling. Importing natural gas promised to reduce electricity prices, lower carbon emissions, improve security of energy supply, diversify the country’s fuel mix and enable compliance with increasingly stringent European environmental legislation. It was also expected to facilitate the liberalisation of the electricity market by providing a cleaner and more competitive fuel for power generation.

Seven...