Egypt, Greece and Cyprus back plans to bring Cypriot gas to Europe
Cyprus’ Cronos gas is expected to reach European markets via Egypt from 2028, with Greece offering an onward route into southeastern and central Europe. The three countries renewed their backing for the plan at their El Alamein summit.
Egypt, Greece, and Cyprus reaffirmed their support for a plan to transport Cypriot gas to Europe via Egyptian export facilities. Greek Prime Minister Kyriakos Mitsotakis proposed a possible route through Greece's Revithoussa and Alexandroupolis terminals, where LNG would be converted back into gas and sent to southeastern and central Europe via the Vertical Corridor.
Cyprus' first gas development, Cronos, is anticipated to commence production in 2028, with new contracts awarded for its engineering and installation. Cronos involves four offshore wells, with gas transported through an undersea pipeline to Egypt, where it will be liquefied and exported from Damietta. The project is expected to supply the equivalent of around 2.8 million tonnes of LNG annually, using existing Egyptian processing facilities to reduce costs and expedite development.
This new gas route in the Mediterranean aims to enhance Europe's energy security by diversifying its LNG supply sources and circumventing the Iran-led disruption of Gulf LNG supplies due to the ongoing war and the blockade of the Strait of Hormuz.
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