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Cronos gas field targeted for first production in early 2028
President Christodoulides told AP that gas from Cyprus's first field should flow in the first half of 2028, with peak output of up to 500 million cubic feet a day piped to Egypt.
Cyprus expects the Cronos gas field to begin production in the first half of 2028, President Nikos Christodoulides said in an exclusive statement to the Associated Press published on Thursday.
The field lies about 185 kilometres southwest of Cyprus and is estimated to hold around 3 trillion cubic feet of gas, or about 85 billion cubic metres. Eni signed development contracts last month with eight main contractors covering subsea production systems and pipelines, a floating control unit and drilling rig services, AP reported.
“The conclusion of these agreements, which trigger the commitment of billions of euros in investment, provides for a clearly defined path towards production,” Christodoulides said.
The gas will be piped to Egypt’s Damietta facility, where it will be liquefied and exported to international markets, primarily Europe. Peak production is expected to reach up to 500 million standard cubic feet a day, or 14.16 million cubic metres.
“Cyprus is part of the energy equation, with Europe benefiting with added diversification and with the Union’s autonomy being anchored. This is the first step in a path that is bright,” the president said.
He described Cronos as a “substantive step” towards Cyprus’s first natural gas production, linking it to Europe’s search for alternatives to Russian gas and to the bloc’s energy security.
Other fields under consideration
Six other deposits in Cyprus’s exclusive economic zone are being considered for development, including ExxonMobil’s Glaucus and Pegasus fields south of Cronos.
ExxonMobil’s vice president of global exploration, John Ardill, said in June that gas could start flowing from those two deposits by 2033, and that it would most likely be piped to Egypt for liquefaction and export.
What is not known
The 2028 date is a target set out by the president, not a guarantee. The statement did not give a date for a final investment decision, the share of gas that would be supplied to Cyprus, or any effect on domestic electricity or gas prices.
Because the gas is to be liquefied and sold through Egypt, the announcement does not by itself mean cheaper energy for households. The statement also did not say how any revenue would be used.
Why it matters
Cyprus has discovered several gas fields in its exclusive economic zone but has not produced any gas. Cronos would be the first to do so.
The government is presenting the project as both an economic investment and a contribution to EU supply security at a time when fuel prices have been rising. For residents, the more immediate questions are what the development contracts commit Eni to, when construction work starts and whether any of the gas reaches the domestic market.
Sources (2)
- Associated Press via ABC News, Gas deposits off Cyprus are an opportunity for the EU, president says, 5 November 2026 . Carries the president's exclusive statement to AP, the production timeline, field size, peak output and export route.
- Philenews, Cronos gas field to start production by mid-2028, Christodoulides says, 5 November 2026 . Reports the same statements, citing the Cyprus News Agency.