Cyprus Approves Development of Cronos Gas Field, First Exports Expected by 2028
Cyprus Approves Development of Cronos Gas Field, First Exports Expected by 2028
Cyprus has initiated the transition from natural gas exploration to production with Eni’s final investment decision for the Cronos field, set to commence exports in 2028.
Eni, in partnership with TotalEnergies, will develop the Cronos gas field in Block 6 of Cyprus’ Exclusive Economic Zone, which contains over three trillion cubic feet of natural gas. The project will utilize existing infrastructure in Egypt, facilitating the transport of gas to the Damietta LNG facility for international distribution, primarily to Europe. This marks a significant milestone for Cyprus, positioning it as a natural gas producer and exporter, with potential revenues contingent on international market conditions.
For journalistic integrity, this report was summarized from: en.protothema.gr