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Cyprus moves ahead with Eni and TotalEnergies Cronos gas project

The Cronos field is expected to reach a plateau of about 500 million cubic feet per day, with LNG exports largely aimed at Europe starting in 2028.

Reported · Written up by our desk · Energy

Eni and TotalEnergies have taken the final investment decision to develop the Cronos gas field in deep waters offshore Cyprus, a move described as the Mediterranean country’s first hydrocarbon development. OilPrice reports the project is expected to bring first gas to market in 2028.

The Cronos development is being operated by Eni, which holds a 50% stake, while TotalEnergies holds the other 50%. The partners said the project is in Block 6, which contains more than 3 trillion cubic feet of gas initially in place, and production is expected to plateau at around 500 million cubic feet per day, equivalent to about 2.8 million tons of LNG per year.

Gas from Cronos is planned to be transported and processed using existing Zohr facilities in Egypt, then liquefied at Egypt’s Damietta LNG plant for export. OilPrice adds that Eni and TotalEnergies will each market 50% of the LNG volumes for exports, expanding their LNG trade portfolios.

Eni said the Cronos fast-track initiative is intended to help position Cyprus as a European gas producer and exporter, leveraging Egypt’s existing hydrocarbon infrastructure. The project was discovered in 2022 and appraised in 2024, and it is described as Eni’s first development in Cyprus and the country’s inaugural hydrocarbon project.

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