Cyprus to Start Supplying Natural Gas to Europe in March 2028

Natural gas from an underwater field off the coast of Cyprus will begin to flow to the European market in March 2028. This will mark the first instance of gas supplies to the EU from the Eastern Mediterranean. Cyprus' Minister of Energy, Michalis Damianos, announced that TotalEnergies and Eni have made the final decision to develop the Cronos field. Construction of a 105-kilometer pipeline to the Egyptian Zohr field will commence at the end of 2026 and will take 18 months to complete. The gas will be directed to a liquefaction plant in Damietta for subsequent transportation to Europe. The project is estimated to cost $2 billion. The total reserves of the Cronos field exceed 85 billion cubic meters, with all volumes intended for the European market, although 20% of the gas may be used for domestic needs in Egypt. Five additional fields have also been discovered in Cyprus' exclusive economic zone. A consortium of ExxonMobil and QatarEnergy is developing the Glaucus and Pegasus fields, which have a combined volume of approximately 195 billion cubic meters, with production expected to begin by 2033. Chevron is expected to make a final decision on the Aphrodite field in the summer of 2027.

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