Cyprus Emerges as Crucial New Gas Supplier for Europe Amid Russian Energy Dependence
Cyprus is set to become a significant new gas supplier for Europe as the continent seeks alternative energy sources amid Russia's war in Ukraine and instability in the Middle East. According to Damianos, the East Mediterranean region is rapidly becoming an alternative energy source for European nations.
The project involves France's TotalEnergies and Italy's Eni developing a natural gas field off Cyprus' southern coast, with the construction of a pipeline from the Cronos natural gas field scheduled to start in late 2026 and take up to 18 months to complete. The estimated reserves of the Cronos field total more than 3 trillion cubic feet of gas.
The gas will be conveyed to Egypt via the planned pipeline, where it will be liquefied for transport by ship to Europe. Developing Eastern Mediterranean gas fields is expected to help Europe diversify its energy supplies and reduce reliance on Russian gas, which has declined from 45 percent in 2025 to 12 percent.