Cyprus nears launch of gas production from Cronos field

Negotiations for the development of the Cronos gas field are in their final stages, with the first natural gas deliveries expected by mid-2028. This was stated by Energy Minister Michalis Damianou, commenting on the results of a meeting chaired by Cyprus in the EU Council.

According to the minister, if an agreement is reached in the coming weeks, deliveries could start as early as the end of 2027 or in the first half of 2028. The field is being developed by a consortium of Eni and TotalEnergies, and the gas transport is expected to be carried out through the Egyptian Zohr field with subsequent access to European markets.

Damianou described the current negotiations as a "positive stage" for Cyprus and the entire region, emphasizing that natural gas will remain an important element of energy security in the coming years, despite the EU's long-term course toward decarbonization.

The minister also noted that other energy projects on the island are progressing on schedule. The development of the Aphrodite field, operated by Chevron, is at the Front-End Engineering Design (FEED) stage, which will last until January 2027. A final investment decision is expected within six months after the completion of this stage, and the start of deliveries is planned for 2030–2031 with gas exports to Egypt via pipeline.

As for ExxonMobil's projects, they are also being implemented according to plan, although the start of production is projected around 2033 due to technical complexity.

Separately, the minister announced that with the successful implementation of current projects, Cyprus could begin exporting liquefied natural gas to Europe in about two years. He emphasized that natural gas is considered a "bridge fuel" on the path to cleaner energy and the development of hydrogen technologies.

During the meeting, issues of strengthening EU energy security, accelerating electrification, and developing electricity storage systems as a key element of the transition to climate neutrality by 2050 were also discussed.