Cyprus’ offshore gas ambitions have moved a major step forward after TotalEnergies and Eni approved the Final Investment Decision (FID) for the development of the Cronos gas field in Block 6, paving the way for first production in 2028.

 

The project, jointly owned by TotalEnergies (50%) and Eni (50%, operator), will develop the Cronos discovery, which was first made in 2022 and successfully appraised in 2024.

 

Located in deep waters around 185 kilometres southwest of Cyprus, the Cronos development will feature four subsea wells. Gas will be transported through a subsea pipeline from Cypriot waters to Egypt, where it will be processed and liquefied at the Damietta LNG terminal before being shipped to European markets.

 

By using existing Egyptian infrastructure, the project is designed for a fast-track development timeline, creating operational synergies while reducing the carbon intensity of production.

 

Production is expected to begin in 2028, reaching a plateau of approximately 500 million cubic feet per day (Mcf/d), equivalent to around 2.8 million tonnes of LNG annually. TotalEnergies will market 50% of the LNG produced.

 

The investment decision follows the signing of a Host Government Agreement in February 2025, alongside key commercial and contractual agreements covering offshore facility access at the Zohr field, gas transit through Egypt, liquefaction at Damietta LNG, and LNG sales arrangements.

 

The development could also unlock further opportunities in Cyprus’ Block 6, where additional resources will be assessed during future exploration and appraisal campaigns.

 

"We are pleased to launch this new project alongside Eni, with the support of the Cypriot and Egyptian governments. As Cyprus’ first gas development project, Cronos will support the development of a new regional gas hub in the Eastern Mediterranean, leveraging Egypt’s infrastructure. 

 

"This new gas route in the Mediterranean will contribute to Europe’s energy security by diversifying its LNG supply sources” said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies. 

 

“By relying on existing gas processing capacities, this project is aligned with our strategy of prioritizing low-cost and low-emission projects. Cronos will also contribute to the growth of TotalEnergies’ LNG portfolio which is expected to reach 60 Mtpa by 2030.”