The government has approved key energy agreements, with Cyprus aiming to sell its first natural gas to Europe through Egypt by 2028, President Nikos Christodoulides said.
Speaking at the start of a Cabinet meeting, the President described the decision as a major step in the country’s energy planning.
Key decision on gas development
“Fifteen years after the first discovery in Cyprus’ exclusive economic zone, today we are taking what I consider the most important decision regarding the utilisation stage of natural gas,” he said.
The Cabinet approved the development and production plan for the “Cronos” gas field, along with agreements covering the main terms for the sale of Cypriot natural gas.
2028 export target
The stated goal is for Cyprus to begin exporting gas to Europe via Egypt in 2028, marking the first commercial use of its offshore reserves.
Further announcements expected
The President added that further developments are expected soon, noting that discussions with Exxon are at an advanced stage.
“We are in advanced consultations and will soon be in a position to announce the next specific steps,” he said.
