Italian energy major Eni has taken the Final Investment Decision (FID) for the development of the offshore Cronos gas field in Cyprus, marking a significant milestone in the country’s first natural gas production project. The development is being undertaken in partnership with TotalEnergies, with first gas targeted by 2028.
Located in Block 6 of Cyprus’ Exclusive Economic Zone, the Cronos field is estimated to contain more than 3 trillion cubic feet of natural gas. The project will transport gas to Egypt through existing infrastructure for processing and LNG export via the Damietta terminal, supplying international markets, particularly Europe.
The development is expected to strengthen energy cooperation in the Eastern Mediterranean, diversify Europe’s gas supplies, and position Cyprus as an emerging regional energy hub while leveraging existing infrastructure for faster commercialization.
