Eni and TotalEnergies have taken the final investment decision (FID) for the development of Cronos, the first gas development in Cyprus, with production start-up expected in 2028.
Operated by Eni and located in deep offshore waters approximately 185 kilometers southwest of the coast of Cyprus, in offshore Block 6, Cronos was discovered in 2022 and appraised in 2024.
The field will be developed through four subsea wells and will partly rely on existing facilities in Egypt. Gas will be transported by subsea pipeline from Cyprus to Egypt, where it will be processed in Zohr facilities and then liquefied at the Damietta LNG terminal before being exported to international markets, primarily Europe.
Production start-up is expected in 2028, with a plateau of around 500 million cubic feet per day (Mcf/d), equivalent to around 2.8 million tons of LNG per year (Mtpa), 50% of which will be marketed by TotalEnergies.
“We are pleased to launch this new project alongside Eni, with the support of the Cypriot and Egyptian governments. As Cyprus’ first gas development project, Cronos will support the development of a new regional gas hub in the Eastern Mediterranean, leveraging Egypt’s infrastructure. This new gas route in the Mediterranean will contribute to Europe’s energy security by diversifying its LNG supply sources,” said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.
“By relying on existing gas processing capacities, this project is aligned with our strategy of prioritizing low-cost and low-emission projects. Cronos will also contribute to the growth of TotalEnergies’ LNG portfolio which is expected to reach 60 Mtpa by 2030.”
Through the marketing of 50% of the LNG volumes, equivalent to 1.4 Mtpa, Eni said it would increase its contracted LNG portfolio, supporting its ambition to exceed 20 Mtpa by 2030.
With the host government agreement inked in February 2025, the main commercial and contractual agreements required for the development of the project have been signed, defining the terms for the use of the offshore facilities of the Zohr field, the transit of gas through Egypt, liquefaction at Damietta LNG, and the sale of the gas as LNG.
In Cyprus, Eni and TotalEnergies are also partners in Blocks 7, 8 and 11. TotalEnergies operates Blocks 7 and 11, with Eni operating Block 8 where TotalEnergies holds 40%.
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