Cyprus’s energy minister announced that natural gas from the Cronos field off the island’s southern coast is projected to reach European consumers in March 2028. The development represents the first time gas from East Mediterranean deposits will be supplied to European markets. Energy companies TotalEnergies and Eni made a final decision last month to proceed with the project, which officials say addresses Europe’s need for alternative energy sources amid ongoing geopolitical tensions.
According to the consortium’s timeline, a pipeline connecting Cronos to Egypt’s Zohr gas field approximately 65 miles away will begin construction later this year and require up to 18 months for completion. The gas will then be transported to Egypt’s Damietta processing facility on the northern shore, where it will be liquefied for shipment to Europe. This routing was determined to be the most economically feasible option at approximately $2 billion, roughly half the cost of alternative development scenarios within Cypriot waters, due to proximity to existing infrastructure.
The Cronos field contains more than 3 trillion cubic feet of gas designated for European supply, though an agreement clause permits roughly one-fifth of that volume to address some of Egypt’s domestic energy requirements. Cyprus’s energy minister characterized the reserve as modest in terms of national revenue but significant as the country’s initial step toward becoming a gas-producing nation.
Cyprus has identified six natural gas deposits within its Exclusive Economic Zone. Additional projects include the Glaucus and Pegasus fields, operated by ExxonMobil and QatarEnergy, expected to begin production by 2033, and the Aphrodite field, where a Chevron-led consortium is anticipated to make a development decision in summer 2027. An arbitration process regarding the portion of Aphrodite located in Israeli waters is expected to conclude next month.
Beyond gas development, Cyprus is advancing the Great Seas Interconnector, an electricity cable project linking Europe’s power grid with Cyprus and Israel. The project received backing from French investment company Meridiam and approximately $760 million in EU funding, though cost estimates remain uncertain pending a European Investment Bank report due in coming months.
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