TotalEnergies and Eni approve Cyprus 'Kronos' gas field development

TotalEnergies and Italy's Eni announced the final investment decision for the offshore "Kronos" natural‑gas field in Cyprus's Block 6 of its exclusive economic zone. Discovered in 2022 and evaluated in 2024, the deep‑water project is slated to start production in early 2028, delivering roughly 500 million cubic feet of gas per day (about 2.8 million tonnes of LNG annually). The gas will be piped to Egypt, liquefied at the Damietta LNG terminal, and exported primarily to European markets.

Cyprus Energy Minister Dimitris Damianos called the decision a "historic milestone" for the Republic, highlighting its role in diversifying Europe’s energy supply and strengthening regional energy security. TotalEnergies CEO Patrick Pouyanné said the project will support a new Eastern Mediterranean gas hub and contribute to the EU’s supply resilience.

The venture is underpinned by agreements with the Cypriot and Egyptian governments, linking the field to existing infrastructure at the Zohr field and facilitating rapid, cost‑effective development while minimizing environmental impact.