Chinese-led consortium pulls out of contract to build Cyprus' first natural gas import terminal

A Chinese-led consortium has pulled out of its contract with Cyprus to build the island nation’s first natural gas import terminal over what it says was the Cypriot government’s failure to pay what it owed for work completed this year. The CPP-Metron Consortium said in a statement Thursday that the Cypriot government failed to live up to its commitments to pay up, despite promises made during a March meeting chaired by President Nikos Christodoulides. The Cyprus government has so far not commented on the development. Work on the 289 million euro ($319 million) terminal on the island’s southern coast began in July 2020 and was scheduled to be completed two years later.