US EditionEni at ‘final stage’ of decision to develop Cronos gas field off Cyprus, says COO
Eni plans to pipe 3.4 trillion cubic feet of gas from Cyprus's exclusive economic zone to Egypt’s Damietta plant for liquefaction and export to Europe by early 2028.
- Eni Chief Operating Officer Guido Brusco said Thursday the company is in the final stage of deciding on developing the Cronos gas field, with a few documents still to be finalized.
- In Block 6 of Cyprus' exclusive economic zone, Cronos is one of three discoveries and is estimated to hold 3.4 trillion cubic feet of gas.
- Gas from Cronos could be piped to the Damietta processing plant using infrastructure conveying gas from Egypt's Zor deposit about 80 kilometers away, where it would be liquefied for shipment to Europe.
- For Cyprus, Cronos would be the first field developed from its exclusive economic zone and is important for the country's economy and people, with Cypriot President Nikos Christodoulides saying the deal must be completed by March 30.
- Eni says gas could reach European markets by the end of next year or early 2028 if remaining steps are completed, citing Eni's reputation for expediting projects.
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Associated Press News
Eni at ‘final stage' of decision to develop Cronos gas field off Cyprus, says COO
A top Eni executive says the Italian energy company is in the “final stage” of deciding whether to go ahead with developing a natural gas field off Cyprus that could deliver the hydrocarbon to European markets in just two years.
Eni is one step away from a definitive "yes" to Cyprus' gas: the Cronos field is ready to quench Europe's thirst within two years. - Economic Scenarios
Eni is in the final stages. This isn't just a backdoor rumor, but confirmation directly from the company's Chief Operating Officer, Guido Brusco . The six-legged giant is about to lift its grip on the development of the Cronos natural gas field, located off the coast of Cyprus. This move could bring new gas to European markets in record time: by the end of next year or, at the latest, by early 2028. Deposits around Cyprus (S&P) The race against …
Kronos gas field ‘in final stage of development’
The Kronos gas field in Block 6 of Cyprus’ Exclusive Economic Zone (EEZ) is “in the final stage of development” ahead of a potential final investment decision, President Nikos Christodoulides said on Thursday during a meeting with Eni's chief operating officer of global natural resources, Guido Brusco. “It is very…
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