Eni Greenlights Cronos Project, Targets 2028 First Gas for Cyprus

Italian energy company Eni has made a Final Investment Decision (FID) to develop the Cronos project, an offshore gas field in Cyprus. The project aims to bring the first Cypriot gas to market by 2028.

The Cronos field, located in Block 6, holds over 3 trillion cubic feet of initially recoverable gas. Production is expected to reach a plateau of 500 million standard cubic feet per day (mmscf/d).

Eni will transport the gas through existing Zohr facilities in Egypt and then liquefy it at the Damietta LNG plant for export to European markets.

Cronos marks Eni's first development project in Cyprus and represents a major milestone for the country's hydrocarbon sector. The project is expected to unlock the establishment of a regional gas hub in the Eastern Mediterranean by leveraging Egypt's existing infrastructure.