Eni Greenlights Cronos Project in Cyprus, Eyes 2028 Gas Production

Eni has reached a final investment decision (FID) for the Cronos project in Cyprus, aiming to bring the first gas from the Cypriot offshore field online in 2028.

The project, led by Eni as operator, will enable the Cronos field in Block 6 to come on stream and produce around 500 million standard cubic feet per day. The gas will be transported to and processed at the existing Zohr facilities in Egypt before being transferred to and liquefied at the Damietta LNG plant and exported as liquefied natural gas (LNG) to international markets, primarily in Europe.

Cronos is Eni's first development in Cyprus and will create a regional gas hub in the Eastern Mediterranean. The project represents a significant step forward on the path to making Cyprus an EU gas producer and exporter, according to Eni's CEO Claudio Descalzi.