Cyprus set to become pivotal new gas supplier for Europe
European consumers can expect natural gas from an undersea deposit off Cyprus to help meet their energy needs as early as March 2028, Energy Minister Michael Damianos told The Associated Press in an interview published on August 9.
European Union nations are set to receive natural gas from a newly discovered undersea deposit off the coast of Cyprus starting in March 2028, according to Energy Minister Michael Damianos. East Mediterranean gas is emerging as an alternative source for Europe as Russia's war in Ukraine and instability in the Middle East force the continent to explore new energy resources.
TotalEnergies and Eni have announced plans to develop the Cronos natural gas field, which will be the first time the East Mediterranean offers gas to European markets. Construction of a pipeline from the Cronos field is slated to begin in late 2026 and take up to 18 months to complete. Cyprus' natural gas could provide Europe with a crucial alternative to Russian supplies, helping to reduce dependence on Moscow and decrease the continent's energy revenues for Russia.
The gas will be transported to Egypt as liquefied natural gas for shipment to Europe. The Cronos field is estimated to hold over 3 trillion cubic feet of gas. Developing Eastern Mediterranean gas fields will aid Europe in diversifying its energy supply amidst the ongoing conflict in Ukraine and instability in the Middle East. Cyprus is also working on the Great Sea Interconnector, an undersea power cable to link Cyprus' electricity grid with Europe and eventually Israel, with the EU committing $760 million to the project.
Despite storage levels in European underground facilities falling to their lowest point this time of year, they have since narrowed the gap with 2021 figures as the current injection season progresses.
Written by urgent.news from New Voice of Ukraine's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
