TotalEnergies and Eni have reached a final investment decision to develop the Cronos gas field in Block 6, offshore Cyprus. This marks the first-ever gas development project for the country.
The project aims to establish a new regional gas hub in the Eastern Mediterranean. A subsea pipeline will transport gas to Egypt for processing at the Zohr field and Damietta LNG terminal.
First gas production is scheduled for 2028. Plateau production is expected to reach 500 million cubic feet per day.
This output equals approximately 2.8 million tons of LNG annually. TotalEnergies will market 50% of the total volume to European markets.