Cyprus Breaks into Gas Export Market with Cronos Development

Cyprus has taken its first step into becoming a natural gas exporter after Eni announced it reached the Final Investment Decision (FID) for the Cronos field in Block 6 of its Exclusive Economic Zone (EEZ).

The Cronos field, which holds over 3 trillion cubic feet (Tcf) of gas-in-place, is expected to produce 500 million standard cubic feet per day, equivalent to roughly 5.16 billion cubic meters per year.

The gas will be transported and processed at the existing Zohr facilities in Egypt before being sent for liquefaction at the Damietta LNG plant to be exported to international markets, primarily Europe.