Cyprus is accelerating the development of its own natural gas fields, planning to start selling it to Europe as early as 2028, writes Euronews.
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The country's President, Nikos Christodoulides, announced that new agreements have been reached with major energy companies — Exxon, as well as the Eni and TotalEnergies consortium — in Cyprus's exclusive economic zone. The main goal of these projects is to move from exploration to actual production and export of gas.
Special attention is paid to the "Kronos" field, for which a development plan has already been approved. It is considered one of the key fields for the start of industrial production. According to the plan, the Eni—TotalEnergies consortium is expected to make a final investment decision on its development in the near future.
In addition, the authorities are also promoting the "Aphrodite" field project, involving companies Chevron, BG, and NewMed Energy. An investment decision for this field is expected by 2027.
The Cypriot government considers gas projects strategically important, as they are expected to strengthen the country's energy independence and its role in the region. It is also noted that exports are planned to be carried out via Egypt, and then to European countries.
Overall, Cyprus is transitioning from many years of exploration (since the first discoveries in 2011) to the stage of industrial development and expects the first gas supplies to the market to begin in 2028.
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