Cyprus Unveils First Gas Project with Eni and TotalEnergies Partnership

Cyprus has launched its first gas project, called Cronos, in partnership with Eni and TotalEnergies. The project will bring gas from the Cronos field to market by 2028, with production reaching a plateau of around 500 million cubic feet per day (Mcf/d).

The gas from Cronos will be transported and processed in existing Zohr facilities in Egypt, then transferred and liquefied in Egypt's Damietta LNG plant for export to international markets. Eni and TotalEnergies will each market 50% of the LNG volumes for exports.

Cyprus has been vying with Greece to become a gas hub for increased supply to Europe. The country's first hydrocarbon development is expected to contribute to Europe's energy security by diversifying its LNG supply sources, according to Patrick Pouyanné, chairman and CEO of TotalEnergies.