TotalEnergies and Eni Partner on Cronos Gas Field Development

TotalEnergies and Eni have reached a final investment decision to develop the Cronos natural gas field in Cyprus's offshore Block 6, a significant step towards supplying European energy markets via Egypt's liquefied natural gas network.

Each partner holds a 50% interest in the venture, with Eni acting as operator. The field will be tapped using four subsea wells positioned roughly 185 kilometers southwest of Cyprus.

The gas will move through a subsea pipeline to Egypt, where it will undergo processing and liquefaction at the Damietta LNG terminal before shipment to Europe.

Output is slated to start in 2028, with the field anticipated to hit a plateau of about 500 million cubic feet per day, translating to roughly 2.8 million metric tons of LNG each year.