Cyprus Set to Become Key Player in European Energy Market with 2028 LNG Plans

Cyprus is gearing up to become a significant player in Europe's energy market. The island nation has announced plans to supply natural gas to the continent from 2028, with the goal of providing around 2.8 million tonnes of liquefied natural gas (LNG) annually.

The development of the Kronos natural gas field off Cyprus' coast is a major step towards this goal. The field is expected to hold an estimated 85 billion cubic meters of recoverable reserves, making it one of the most significant discoveries in the eastern Mediterranean.

TotalEnergies and Eni, two energy companies from France and Italy respectively, have partnered on the project. Each company intends to market half of the production volume, which will be transported via a pipeline to Egypt for processing and liquefaction before being exported to Europe.