Cyprus' Cronos Gas Field Set to Supply Europe by 2028

Europe is poised to receive natural gas from an undersea deposit off Cyprus by March 2028, said energy minister Michael Damianos.

The Cronos field, a partnership between TotalEnergies and Eni, will supply the continent's energy needs as it seeks alternative sources due to Russia's war in Ukraine and Middle East upheaval.

Development of the Cronos field is expected to begin later this year, with work on a pipeline from the deposit to Egypt's Zohr natural gas facility set to take 18 months to complete.

The project's cost is estimated at $2 billion, roughly half the price of developing other gas fields in Cypriot waters due to its proximity to existing infrastructure.