Eni Greenlights Cronos Gas Project in Cyprus for 2028 LNG Exports

Eni has greenlit the Cronos gas project in Cyprus, aiming to bring the first gas online by 2028 and kick off LNG exports via Egypt. The project will target production of approximately 500 million standard cubic feet of gas per day (mmscf/d) from the deepwater Block 6 offshore Cyprus. Eni operates the field with a 50% stake in partnership with TotalEnergies, which has a similar holding.

The Cronos development represents a major milestone for Cyprus' energy sector and is set to establish the nation as a new natural gas exporter in the Eastern Mediterranean. The project's first LNG exports will be processed using Egypt's existing Zohr facilities before being liquefied at the Damietta plant, primarily targeting Europe.

'The fast-track development of Cronos strengthens Cyprus' position as a future European gas supplier while supporting the creation of a regional gas hub in the Eastern Mediterranean,' Eni CEO Claudio Descalzi stated. He emphasized that the project demonstrates effective international cooperation by utilizing Egypt's established hydrocarbon infrastructure, thereby enhancing Europe's energy diversification and improving long-term supply security.