Cyprus's Kronos Gas Field on Track for 2028 Production

Cyprus is poised to take a major step towards energy independence with the development of its Kronos natural gas field. Eni and TotalEnergies, two major players in the industry, are working intensively to reach a final investment decision by the end of July.

This project comes at a critical time for Europe, which is seeking stable and nearby energy sources after successive shocks to global supply, including the invasion of Ukraine in 2022. The Kronos field will supply European markets via Egypt, with production slated to begin in 2028.

The development represents a milestone for Cyprus, marking the first commercial exploitation of offshore deposits more than a decade after initial discoveries. Eni will operate the project through a 50-50 joint venture with TotalEnergies.