TotalEnergies and Eni Approve Cyprus' First Gas Field Development

Paris, France – TotalEnergies and Eni have taken the Final Investment Decision to proceed with the development of the Cronos gas field located in Cyprus offshore Block 6. This marks the first gas development project for Cyprus.

The Cronos field, discovered in 2022 and appraised in 2024, is co-owned at 50% by each company with Eni serving as operator. The development will involve four subsea wells situated approximately 185 kilometers southwest of Cyprus, utilizing existing infrastructure in Egypt.

Produced gas will be transported via subsea pipeline to Egypt, where it will be liquefied at the Damietta LNG terminal for export to Europe. Production is anticipated to commence in 2028, reaching a plateau of about 500 million cubic feet per day, equivalent to approximately 2.8 million tonnes of LNG per year. TotalEnergies will market 50% of this output.

The project aims to bolster European energy security by diversifying LNG supply routes through the Eastern Mediterranean and establishing a regional gas hub by leveraging Egypt's existing facilities, including those linked to the Zohr field. Both companies noted that utilizing existing infrastructure is expected to accelerate project start-up and reduce the production's carbon intensity. Further resources within Block 6 may also be developed in the future.