Cyprus Gas Set for EU Supply by March 2028 Amid Russian War
Cyprus's natural gas deposits are expected to supply European markets by March 2028, according to Energy Minister Michael Damianos. The Cronos field off Cyprus' southern coast will be developed by partners TotalEnergies of France and Italy's Eni. This project will mark the first time east Mediterranean gas is supplied to European markets.
The pipeline from Cronos to Egypt's massive Zohr natural gas deposit will begin construction later this year and take up to 18 months to complete, at a cost of $2 billion or half the estimated cost of developing other fields inside Cypriot waters. The gas will then be liquefied for transport by ship to Europe.
The EU is seeking alternative energy sources due to Russia's war in Ukraine and upheaval in the Middle East. Damianos said, 'It's important for Europe at this time because of the war in Ukraine, because of this situation in the Middle East, that Cyprus is going to be an alternative source of gas.'