An agreement for the construction and installation of infrastructure to develop the Cronos natural gas field was signed at the Presidential Palace on Monday, in what Eni described as Cyprus’s first hydrocarbon field development project. The field, in Block 6 of the exclusive economic zone, is estimated to contain more than 3 trillion cubic feet of natural gas, with production expected to begin in 2028, CNA reported.
The Cronos field in figures
- location: Block 6 of Cyprus’s exclusive economic zone
- estimated reserves: more than 3 trillion cubic feet of natural gas
- Final Investment Decision: approved in July 2026
- expected start of production: 2028
- operator: Eni, with a 50% stake, in partnership with TotalEnergies
Export route via Egypt
Under the plan, the natural gas will be transported to Egypt for processing and liquefaction at existing facilities, including the Damietta LNG plant, before being exported mainly to Europe.
The use of existing infrastructure is expected to reduce the project’s development time and cost.
Eni’s position
Eni Chief Operating Officer Guido Brusco said Cronos is “a project of strategic importance, which demonstrates in practice our ability to achieve our goals”. He said it combines successful exploration activities, rapid development, regional cooperation and the use of existing infrastructure.
Mr Brusco noted that this is Eni’s first field development project in Cyprus and said it signals the company’s commitment to becoming a long-term partner in the country’s energy path. He added that it is also a historic milestone for Cyprus, as it is the country’s first hydrocarbon field development project.
Government’s position
Energy, Commerce and Industry Minister Michalis Damianou said Cronos is significant for Cyprus beyond its estimated reserves, as it substantially advances efforts to turn offshore discoveries into tangible economic and strategic benefits.
Eni in Cyprus
Eni has been active in Cyprus since 2013 and operates Block 6 in partnership with TotalEnergies.
Source: CNA
