Eni and TotalEnergies Give Green Light for Cyprus' Cronos Gas Project
The project will use Egypt’s Zohr field and Damietta LNG terminal, with first gas expected in the first half of 2028, officials said.
- On Tuesday, Energy Minister Michael Damianos announced that Eni and TotalEnergies made a final investment decision to develop the Kronos natural gas field in Block 6 of Cyprus' exclusive economic zone, calling it a "historic milestone."
- The development plan involves four subsea wells located about 90 nm southwest of Cyprus, utilizing a trans-boundary tieback to connect with Egypt's Zohr field for processing and liquefaction at the Damietta LNG terminal.
- Supporting about 2.8 million tonnes per annum of LNG export capacity, Kronos holds an estimated three trillion cubic feet of natural gas with production targeting about 500 million standard cubic feet per day.
- TotalEnergies CEO Patrick Pouyanné stated this new Mediterranean route will contribute to Europe's energy security by diversifying LNG supply sources, aligning with the company's strategy of prioritizing low-cost and low-emission projects.
- Confirming Cyprus' long-term strategy of developing hydrocarbon resources with international partners, the consortium expects first gas from Kronos during the first half of 2028 while utilizing existing infrastructure to reduce environmental footprints.
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22 Articles
In partnership with Italian company Eni, the French company will exploit a deposit located off the island. An investment that must contribute to strengthening European energy sovereignty.
Cyprus hails ‘historic milestone’ as Kronos gas field moves to development
Energy Minister Michael Damianos on Tuesday described the consortium’s final investment decision to develop the Kronos natural gas field in Block 6 of Cyprus’ exclusive economic zone (EEZ) as a “historic milestone” for Cyprus, saying it marks the country’s entry into the commercial exploitation of its offshore gas reserves. Damianos congratulated Eni and TotalEnergies on […]
The Italian Eni and the French TotalEnergies plan to develop a gas field in Cyprus, advancing with the offshore project at the moment when the conflict in the Middle East leads companies to explore other opportunities. Exclusive material for subscribers. To have full access, access the link of the subject and make your registration.
Cyprus is entering the era of natural gas production and export for the first time, as Eni took the final investment decision for the development of the "Kronos" field in block 6 of the Cypriot EEZ.
Eni has reached the Final Investment Decision (FID) for the development of the Cronos project, located in deep offshore waters of Cyprus, with the aim of bringing the first Cypriot gas to the market in 2028. (ANSA)
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