Cyprus advances Kronos Gas Project with exports planned for 2028

Cyprus has moved closer to becoming a natural gas producer after approving the development plan for the Kronos gas field in Block 6 of its Exclusive Economic Zone (EEZ), offshore southwest of the island in the eastern Mediterranean.

The Kronos field was discovered in 2022 and is estimated to contain around 3.4 trillion cubic feet (tcf) of natural gas, making it one of the country’s most significant offshore discoveries. After several years of exploration, appraisal drilling and negotiations, Cyprus now aims to begin commercial gas exports in 2028.

The field will be operated by Eni and TotalEnergies, which hold the rights to Block 6 and will oversee extraction and offshore infrastructure.

Rather than building a new LNG facility in Cyprus, the gas will be transported to Egypt for liquefaction at the Damietta LNG terminal. Cyprus chose this route because Egypt already has existing LNG export infrastructure, making the project faster and more cost-effective than constructing a new terminal.

The strategy is also important for Europe, which has been seeking alternative gas supplies in recent years to reduce dependence on Russian energy. By exporting through Egypt, Cypriot gas can reach European markets more quickly using established shipping routes and LNG facilities.

The Kronos project could significantly strengthen Cyprus position in the eastern Mediterranean energy sector, placing the island among emerging regional gas producers alongside Egypt and Israel. Officials see the project as both an economic opportunity and a geopolitical milestone that could increase Cyprus’ strategic importance in Europe’s energy security plans.

Source:

‘Goal is to sell first Cyprus gas in 2028’ 19 May 2026

Cyprus to sell first gas to Europe by 2028 after Cabinet approves field development deals 19 May 2026