A Radical Recovery: Helping a Country in Crisis
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Transcript of A Radical Recovery: Helping a Country in Crisis
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GE POWER & WATERCrisis Response
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BACKGROUNDON CYPRUS
...
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Located south of Turkey, Cyprus is the third largest island in the Mediterranean, and a
member state of the European Union.
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Cyprus generated slightly more thanIN 2011,
4.5 BILLIONkilowatt hours of electricity.
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Cyprus’ electricity sector relies on imported petroleum products
for feedstock...
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...although there are plans to convert the country’s generating facilities to natural
gas over the coming years.
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As a result of the high import costs of petroleum products,
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As a result of the high import costs of petroleum products,
consumers in Cyprus pay some of the highest prices for electricity
in the European Union.
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WHEN DISASTERSTRIKES
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In July 2011, an explosion occurred at Evangelos Florakis Naval Base, which knocked four 6FA gas turbines at the Vasilikos Power Station on Cyprus offline.
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The power station, owned by the Electricity Authority of Cyprus (EAC),
represents more than 50% of the power capacity installed on Cyprus.
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THE EXPLOSION...
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Damaged properties in nearby villages
THE EXPLOSION...
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Damaged properties in nearby villages
knocked out local power supplies
THE EXPLOSION...
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Damaged properties in nearby villages
knocked out local power supplies
Caused a country-wide energy shortage
THE EXPLOSION...
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The power shortage caused major economic losses for both small and
large businesses, and also had a significant impact on the hotel industry and tourism-related businesses, which
are critical to the economy.
...
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The power shortage caused major economic losses for both small and
large businesses, and also had a significant impact on the hotel industry and tourism-related businesses, which
are critical to the economy.
...
The estimated total damage to the Cyprus economy was more than €3 billion.
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GE RESPONDS...
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Within days of the disaster, a GE service team began performing repairs and
supplying parts to Cyprus.
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More than 200 repair engineers and other technicians contributed to the rehabilitation
effort and helped repair or replace more than 10 major turbine components.
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two of the site’s four turbines resumed service, less than a year
after the accident.
AS A RESULT,...
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The rapid rehabilitation effort was critical for island residents, helping
the country:
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The rapid rehabilitation effort was critical for island residents, helping
the country:
Regain its power autonomy
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The rapid rehabilitation effort was critical for island residents, helping
the country:
Regain its power autonomy
Limit the significant costs associated with the use of temporary generator sets
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LOOKINGFORWARD
...
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As of March 2014, Cyprus did not have proved reserves of
oil or natural gas.
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However, a recent offshore discovery of natural gas resources—with additional exploration on the horizon—has the potential to significantly alter the island nation’s energy sector.
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Construction is underway on a new oil transshipment terminal at Vasilikos on the country’s southern coast, which is part of a broader effort to
develop Cyprus into a regional energy hub.
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This plan includes the construction of a liquefied natural gas (LNG) facility at Vasilikos that will be
supplied with natural gas from the country’s offshore territory.
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IF COMPLETED
the LNG facility could also incorporate natural gas from elsewhere in the
eastern Mediterranean.
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For more on GE Power & Water, visit:
https://www.gepower.com