Cyprus’ Cronos Gas Field Set to Supply Europe by Spring 2028

Cyprus’s Energy Minister Michalis Damianos announced that the Cronos offshore gas field – developed by the TotalEnergies-Eni consortium – will begin delivering gas to European markets in the spring of 2028. The timetable calls for construction of a pipeline linking Cronos to Egypt’s Zohr gas field (about 105 km away) later this year, with an 18-month build period. Gas will be sent to the Damietta processing plant, liquefied, and shipped to Europe.

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The Eastern Mediterranean is being positioned as an alternative to Russian supplies after the war in Ukraine. Cyprus’s EEZ hosts six discovered fields. Glaucus and Pegasus hold an estimated 6.9 tcf and are slated for production by 2033 under licences held by ExxonMobil and QatarEnergy. The older Aphrodite field, with 5.6 tcf, awaits a final investment decision in summer 2027. Cronos therefore represents the first Eastern-Mediterranean gas flowing directly to Europe.

Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

• Cronos reserves: > 3 tcf (? 84.9 bcm).

Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

• Allocation: ? 20 % of output may be used for Egypt’s domestic needs.

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• Development cost: about $2 billion (€1.73 billion), roughly half the cost of other Cypriot offshore fields because of proximity to Egyptian infrastructure.

Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

• EU support: €658 million ($760 million) pledged for the Great Seas Interconnector electricity project.

Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

• Consumer cost share: Cypriot energy users could bear up to 63 % of the interconnector’s construction cost.

Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

All figures are drawn from the TotalEnergies-Eni timetable and statements by Damianos.

Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

Damianos said Cronos’ value lies in Cyprus becoming a gas producer and diversifying Europe’s supply base, aligning with the continent’s need for alternative sources. He highlighted the Great Seas Interconnector as a link that will end Cyprus’s energy isolation and eventually connect to Israel, supporting the broader IMEC Initiative for an energy-trade corridor to the Gulf and India.

Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

The European Investment Bank will publish a report in the coming months on the interconnector’s total cost, while the EU continues to explore funding mechanisms to reduce the burden on Cypriot consumers.

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• “This is important for Europe right now, because of the war in Ukraine and the situation in the Middle East, the fact that Cyprus will be an alternative source of natural gas,” — Michalis Damianos

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• “It is a relatively small reserve,” — Michalis Damianos

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• The EIB report on the interconnector’s price tag is expected in the next few months.

Cyprus natural gas to supply Europe by first half of 2028, minister says, as EU seeks new sources

• A final investment decision on the Aphrodite field is anticipated summer 2027, with a pipeline to Egypt planned under a Chevron-led consortium.

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• An arbitration panel is expected by next month to determine Israel’s share of the Aphrodite field that lies in its waters.

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These steps will determine how quickly Cyprus can transition from a gas importer to a producer and how the Eastern Mediterranean can contribute to Europe’s energy security.

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