Eni and partner TotalEnergies have reached a Final Investment Decision for the Cronos gas field in Block 6, offshore Cyprus. This project marks the first-ever hydrocarbon development for the nation.
First gas from the deep-water field is targeted for 2028. The development plan utilizes a subsea pipeline to transport gas to existing facilities in Egypt.
The gas will be processed and liquefied at the Damietta LNG plant for export to European markets. Production is expected to reach a plateau of 500 million cubic feet per day. This strategy leverages existing infrastructure to fast-track development and diversify Europe's energy supply.