Eni Advances Major Cronos Gas Project to Strengthen Eastern Mediterranean Energy Supply
Eni has reached the Final Investment Decision (FID) for the development of the Cronos gas project offshore Cyprus, marking a major milestone for the country’s energy sector and the wider Eastern Mediterranean gas market.
The project, operated by Eni, will bring gas from the Cronos field in Block 6 into production, with the first Cypriot gas expected to reach international markets in 2028. The development is set to strengthen regional energy cooperation while supporting Europe’s continued focus on securing reliable and diversified energy supplies.
Major Gas Development Offshore Cyprus
Located in deep waters offshore Cyprus, the Cronos field contains more than 3 trillion cubic feet of gas initially in place. Production is expected to reach a plateau of approximately 500 million standard cubic feet per day, with gas transported and processed through existing facilities in Egypt before being transferred to the Damietta LNG plant for export to international markets.
The project highlights the growing importance of utilising existing energy infrastructure to accelerate major developments. By connecting Cronos with established facilities in Egypt, Eni aims to support faster delivery, improve efficiency and reduce the need for additional infrastructure investment.
Supporting Regional Energy Growth
Eni CEO Claudio Descalzi said the project represents an important step in establishing Cyprus as a European gas producer and exporter, while also supporting the creation of a regional gas hub in the Eastern Mediterranean.
Cronos is Eni’s first development project in Cyprus and represents the country’s first hydrocarbon project to move towards production. The development demonstrates how international partnerships and integrated energy solutions can help unlock new resources while supporting long-term energy security.
Expanding Global LNG Opportunities
The project will also strengthen Eni’s global LNG portfolio, supporting the company’s wider ambition to expand its presence in the liquefied natural gas market. By using existing infrastructure and export capabilities, Cronos is expected to play a role in increasing LNG availability for international markets, particularly Europe.
Eni has been active in Cyprus since 2013 and continues to develop its presence across several exploration blocks in the country. Block 6 is operated by Eni, which holds a 50% interest alongside partner TotalEnergies.
A New Chapter for Eastern Mediterranean Energy
As global energy markets continue to evolve, the Cronos gas project represents a significant investment in future energy supply, regional collaboration and infrastructure-led growth. The development highlights the continued role of natural gas within the global energy landscape and demonstrates how major oil and gas projects are adapting to meet changing demand.
Source: Eni.com
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