Cyprus moves toward commercial natural gas production

Cyprus is transitioning from natural gas exploration to commercial production following the Final Investment Decision (FID) for the Cronos field. Energy Minister Michalis Damianos stated that this milestone marks a historic shift for the country’s Exclusive Economic Zone (EEZ).

The Cronos field, managed by a consortium of Eni and TotalEnergies, is expected to utilize existing infrastructure in Egypt to reduce capital expenditures and accelerate the timeline. This strategy aims to bring the first natural gas to market by 2028.

Additionally, the government is evaluating options for the Aphrodite field, including the potential use of a Floating Liquefied Natural Gas (FLNG) unit within the Cypriot EEZ to process discoveries made by ExxonMobil. These developments are expected to generate state revenue and enhance the energy landscape of the Eastern Mediterranean.