Cypriot natural gas flowing to Europe in 2028, says Cyprus Energy Minister
In an exclusive interview with the Associated Press, he highlights the progress of Cyprus's ongoing energy projects, which will also benefit EU citizens.
European consumers can anticipate natural gas from a Cyprus offshore deposit reaching their energy supply by March 2028, according to Cyprus' Energy Minister Michael Damianos. The East Mediterranean is emerging as an alternative energy source for Europe due to Russia's war in Ukraine and unrest in the Middle East. Damianos revealed that TotalEnergies (France) and Eni (Italy) decided to develop the Cronos natural gas field off Cyprus' southern coast as their final step.
This marks the first time gas from East Mediterranean deposits is set to be supplied to European markets. The pipeline from Cronos to Egypt's Zohr natural gas deposit, 105 kilometers away, will commence later this year, taking up to 18 months to complete. The gas will then be liquefied at Egypt's Damietta processing facility before being shipped to Europe.
Piping Cronos gas to Egypt for processing was the most economically viable option, costing around $2 billion or half the estimated cost of developing other Cypriot gas fields. Although the agreement is for all the gas in Cronos to go to Europe, a fifth can be allocated for Egypt's domestic energy needs. Damianos noted that Cronos is one of six natural gas deposits found in Cyprus' Exclusive Economic Zone off its southern coast.
ExxonMobil and partner QatarEnergy, licensed to develop Glaucus and Pegasus fields, anticipate gas flow by 2033.
Written by urgent.news from Winnipeg Free Press's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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