TotalEnergies and Eni Greenlight Cronos Gas Field for European LNG Supply

France's TotalEnergies and Italy's Eni have partnered to develop the Cronos gas field in Cyprus, which is expected to supply Europe with liquefied natural gas starting in 2028. The project will produce 2.8 million metric tons of LNG per year, with each company marketing half of the output.

The Cronos field, located in Block 6 of Cyprus' exclusive economic zone, holds an estimated 3 trillion cubic feet of gas. To export the reserves to Europe, the gas will be piped and processed at Eni's existing facilities in Egypt for transport via the Damietta LNG terminal.

TotalEnergies CEO Patrick Pouyanne stated that the Cronos project will support the development of a new regional gas hub in the Eastern Mediterranean. He added that this new gas route in the Mediterranean will contribute to Europe's energy security by diversifying its LNG supply sources.