Eni and TotalEnergies have taken a final investment decision (FID) to develop the Cronos gas field offshore Cyprus, paving the way for the country's first gas project and creating a new liquefied natural gas (LNG) export route to Europe via existing infrastructure in Egypt.
The Cronos field, located in offshore Block 6, will be developed by Eni, the operator with a 50% stake, and TotalEnergies, which also holds 50%.
Gas will be transported by subsea pipeline to Egypt, where it will be liquefied at the Damietta LNG terminal before being exported to European markets.
Production is expected to begin in 2028, reaching a plateau of around 500 million cubic feet per day, equivalent to approximately 2.8 million tonnes per annum (Mtpa) of LNG.
TotalEnergies will market 50% of the LNG production, or about 1.4 Mtpa.
The project will rely partly on existing Egyptian infrastructure, including offshore facilities at the Zohr field, allowing for a fast-track development while reducing costs and the carbon intensity of production.
The commercial and contractual agreements required for the development have now been signed following the Host Government Agreement concluded in February 2025, covering gas transportation through Egypt, liquefaction at Damietta and LNG sales.
“We are pleased to launch this new project alongside Eni, with the support of the Cypriot and Egyptian governments. As Cyprus’ first gas development project, Cronos will support the development of a new regional gas hub in the Eastern Mediterranean, leveraging Egypt’s infrastructure. This new gas route in the Mediterranean will contribute to Europe’s energy security by diversifying its LNG supply sources.
“By relying on existing gas processing capacities, this project is aligned with our strategy of prioritizing low-cost and low-emission projects. Cronos will also contribute to the growth of TotalEnergies’ LNG portfolio which is expected to reach 60 Mtpa by 2030,” said Patrick Pouyanné, Chairman and Chief Executive Officer of TotalEnergies.
According to TotalEnergies, the project could also enable the future development of additional gas resources in Block 6, which are due to be appraised in upcoming exploration campaigns.