Cyprus natural gas to supply Europe from Cronos field by 2028
Cyprus is set to become a significant energy exporter to Europe, with natural gas from the Cronos undersea field expected to reach European markets as early as March 2028. This development marks the first time gas from East Mediterranean deposits will be supplied to the continent, providing a strategic alternative to Russian gas amid ongoing conflicts in Ukraine and the Middle East.
A consortium comprising TotalEnergies and Eni recently made the final investment decision to develop the Cronos field, which holds over 3 trillion cubic feet of gas. The project involves constructing a 105-kilometer pipeline to connect Cronos to existing infrastructure at Egypt's Zohr field. Construction is slated to begin later this year and is expected to take up to 18 months. Once the gas reaches Egypt, it will be processed at the Damietta facility, liquefied, and shipped to Europe.
The project is estimated to cost approximately $2 billion, a figure considered economically efficient due to the use of existing Egyptian infrastructure. While the primary goal is European supply, a clause in the agreement allows Egypt to use roughly one-fifth of the Cronos gas to meet its own domestic energy needs. Other regional discoveries, such as the Glaucus and Pegasus fields, are expected to begin production by 2033.
Entities
Cronos · Cronos field · Cyprus · Egypt · Eni · ExxonMobil · Michael Damianos · Republic of Cyprus · TotalEnergies · Turkey · Zohr
Claims
What the coverage asserts, and how well corroborated each claim is across sources.
- [● 17 SOURCES] The Cronos field contains more than 3 trillion cubic feet of gas. www.standard-democrat.com · omegalive.com.cy · srnnews.com · biznis.rs · www.danas.rs · +12 more
- [● 18 SOURCES] A clause allows approximately one-fifth of the Cronos gas to be used for Egypt's domestic energy needs. www.standard-democrat.com · omegalive.com.cy · srnnews.com · biznis.rs · www.danas.rs · +13 more
- [● 9 SOURCES] European consumers could receive natural gas from Cypriot undersea deposits as early as March 2028. www.standard-democrat.com · omegalive.com.cy · srnnews.com · biznis.rs · www.danas.rs · +4 more
- [● 2 SOURCES] ExxonMobil and QatarEnergy expect gas from the Glaucus and Pegasus fields to flow by 2033. www.standard-democrat.com · fortune.com
- [● 9 SOURCES] The project involves building a pipeline from Cronos to Egypt's Zohr field, costing approximately $2 billion. www.standard-democrat.com · omegalive.com.cy · srnnews.com · biznis.rs · www.danas.rs · +4 more
- [● 9 SOURCES] A consortium of TotalEnergies and Eni decided last month to proceed with developing the Cronos natural gas field. www.standard-democrat.com · omegalive.com.cy · srnnews.com · biznis.rs · www.danas.rs · +4 more
- [● 9 SOURCES] Work on the pipeline from Cronos to the Zohr field is expected to begin later this year and take up to 18 months. www.standard-democrat.com · omegalive.com.cy · srnnews.com · biznis.rs · www.danas.rs · +4 more
- [● 18 SOURCES] A consortium of TotalEnergies and Eni made a final decision last month to develop the Cronos natural gas field. www.standard-democrat.com · omegalive.com.cy · www.spacemoney.com.br · srnnews.com · www.aktuelno.me · +13 more
- [● 15 SOURCES] Cyprus could supply natural gas to European consumers as early as March 2028. www.standard-democrat.com · omegalive.com.cy · www.spacemoney.com.br · srnnews.com · www.aktuelno.me · +10 more
- [● 5 SOURCES] Gas from the Glaucus and Pegasus fields is expected to start flowing by 2033. www.standard-democrat.com · www.dgabc.com.br · www.infomoney.com.br · zpravy.aktualne.cz · srnnews.com
- [● 17 SOURCES] The pipeline project costs approximately $2 billion. www.standard-democrat.com · omegalive.com.cy · www.spacemoney.com.br · srnnews.com · www.aktuelno.me · +12 more
- [● 18 SOURCES] Construction of a 105 km pipeline from Cronos to Egypt's Zohr field is expected to begin later this year. www.standard-democrat.com · omegalive.com.cy · www.spacemoney.com.br · srnnews.com · www.aktuelno.me · +13 more