Cyprus's Natural Gas Aims to Power European Markets by 2028

Cyprus's energy minister, Michael Damianos, has announced that natural gas from an undersea deposit off Cyprus will start supplying European markets as early as March 2028.

The Cronos natural gas field, located off the southern coast of Cyprus, is expected to be developed by a consortium led by TotalEnergies and Eni, two major energy companies based in France and Italy respectively. The project aims to provide an alternative source of energy for European nations, which have been affected by Russia's war in Ukraine and upheaval in the Middle East.

The gas from Cronos will be transported through a pipeline to Egypt's Zohr natural gas deposit, where it will be processed and liquefied for transport by ship to Europe. According to Damianos, this option was chosen because of its proximity to existing infrastructure and lower costs compared to developing other fields inside Cypriot waters.