GE POWER & WATERCrisis Response

BACKGROUNDON CYPRUS

...

Located south of Turkey, Cyprus is the third largest island in the Mediterranean, and a

member state of the European Union.

Cyprus generated slightly more thanIN 2011,

4.5 BILLIONkilowatt hours of electricity.

Cyprus’ electricity sector relies on imported petroleum products

for feedstock...

...although there are plans to convert the country’s generating facilities to natural

gas over the coming years.

As a result of the high import costs of petroleum products,

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.

WHEN DISASTERSTRIKES

...

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.

The power station, owned by the Electricity Authority of Cyprus (EAC),

represents more than 50% of the power capacity installed on Cyprus.

THE EXPLOSION...

Damaged properties in nearby villages

THE EXPLOSION...

Damaged properties in nearby villages

knocked out local power supplies

THE EXPLOSION...

Damaged properties in nearby villages

knocked out local power supplies

Caused a country-wide energy shortage

THE EXPLOSION...

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 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.

GE RESPONDS...

Within days of the disaster, a GE service team began performing repairs and

supplying parts to Cyprus.

More than 200 repair engineers and other technicians contributed to the rehabilitation

effort and helped repair or replace more than 10 major turbine components.

two of the site’s four turbines resumed service, less than a year

after the accident.

AS A RESULT,...

The rapid rehabilitation effort was critical for island residents, helping

the country:

The rapid rehabilitation effort was critical for island residents, helping

the country:

Regain its power autonomy

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

LOOKINGFORWARD

...

As of March 2014, Cyprus did not have proved reserves of

oil or natural gas.

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.

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.

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.

IF COMPLETED

the LNG facility could also incorporate natural gas from elsewhere in the

eastern Mediterranean.

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