Cyprus' Kronos gas field receives final investment decision

Kronos gas field Cyprus Eni TotalEnergies LNG export

Eni (50%) and TotalEnergies (50%) have taken a final investment decision to develop the Cronos gas field in Block 6 of Cyprus’ exclusive economic zone. The field, discovered in 2022 and appraised in 2024, is estimated to hold more than three trillion cubic feet (about 85 billion m³) of natural gas.

Production is targeted for the first half of 2028, with a plateau of roughly 500 million cubic feet per day – equivalent to about 2.8 million tonnes of LNG annually. The gas will be piped to Egypt’s Zohr field for processing and then liquefied at the Damietta LNG plant before being exported, mainly to European markets.

Cyprus Energy Minister Michael Damianos called the decision a “historic milestone” for the Republic, noting that it marks Cyprus’ first commercial offshore gas project and strengthens the Eastern Mediterranean as a regional energy hub. Both companies said the project will diversify Europe’s gas supply and enhance energy security, with each marketing 50 % of the LNG output.

Entities

Cronos gas field · Cyprus · Egypt · Eni · Eni SpA · Kronos gas field · TotalEnergies · TotalEnergies SE

Claims

What the coverage asserts, and how many sources carry each claim.

[● 2 SOURCES] Cyprus Energy Minister Michael Damianos called the FID a historic milestone for the Republic. www.tothemaonline.com
[● 14 SOURCES] The gas will be processed at Egypt’s Zohr field and liquefied at the Damietta LNG plant for export, primarily to Europe. offshoresource.com · www.europesays.com · www.sbctv.gr · 24-ore.com · www.insider.gr · +8 more
[● 4 SOURCES] Each partner will market 50 % of the LNG output, about 1.4 Mtpa each, totaling roughly 2.8 Mtpa. offshoresource.com · www.europesays.com · www.insider.gr · oilprice.com
[● 14 SOURCES] The project is Cyprus’ first hydrocarbon development and aims to strengthen the Eastern Mediterranean gas hub. offshoresource.com · www.europesays.com · www.sbctv.gr · 24-ore.com · www.insider.gr · +8 more
[● 14 SOURCES] Production is planned to start in the first half of 2028, with a plateau of about 500 million cubic feet per day (≈2.8 Mtpa LNG). offshoresource.com · www.europesays.com · www.sbctv.gr · 24-ore.com · www.insider.gr · +8 more
[● 14 SOURCES] The Cronos field contains an estimated three trillion cubic feet (about 85 billion cubic meters) of natural gas. offshoresource.com · www.europesays.com · www.sbctv.gr · 24-ore.com · www.insider.gr · +8 more
[● 14 SOURCES] Eni and TotalEnergies have taken a final investment decision to develop the Cronos gas field offshore Cyprus. offshoresource.com · www.europesays.com · www.sbctv.gr · 24-ore.com · www.insider.gr · +8 more