Eni Greenlights Cronos Gas Project Offshore Cyprus for 2028 Production

Italian energy major Eni has reached a final investment decision 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 will be transported to Egypt through existing infrastructure, processed at the Zohr facilities, and liquefied at the Damietta LNG plant for export to international markets, primarily Europe.

Eni CEO Claudio Descalzi said that the Cronos fast-track initiative marks a concrete milestone in positioning Cyprus as a European gas producer and exporter. He added that it unlocks the establishment of a regional gas hub in the Eastern Mediterranean by leveraging Egypt’s existing hydrocarbon infrastructure.