Eni Approves Cronos Gas Project Offshore Cyprus, Targets 2028 Production

Italian energy major Eni has made a final investment decision (FID) to develop the Cronos gas project in deep waters offshore Cyprus, targeting first gas production in 2028. The project will develop the Cronos field in Block 6, which contains more than 3 trillion cubic feet of gas initially in place.

Production is expected to reach a plateau of 500 million standard cubic feet per day. Gas from the Cronos project will be transported to Egypt through existing infrastructure and processed at the Zohr facilities before being liquefied at the Damietta LNG plant for export to international markets, primarily Europe.

Cronos marks Eni's first development in Cyprus and the country's first hydrocarbon production project. The company believes it will enable the restart of the Damietta LNG plant, restore structural LNG exports from Egypt, and represent an important step in expanding its global LNG portfolio.