(WO) — TotalEnergies and Eni have reached a final investment decision (FID) to develop the Cronos gas field offshore Cyprus, advancing what the companies describe as the country’s first gas development and establishing a new LNG export route to European markets.
Located in Block 6 about 185 km southwest of Cyprus, the Cronos field will be developed with four subsea wells. Natural gas will be transported by subsea pipeline to Egypt, where it will be processed and liquefied at the Damietta LNG terminal before being exported to Europe. Eni is the project operator with a 50% interest, while TotalEnergies holds the remaining 50%.
Production is scheduled to begin in 2028 and reach a plateau of approximately 500 MMcfd, equivalent to about 2.8 MMtpa of LNG. Under the joint venture, TotalEnergies will market approximately half of the LNG production, or 1.4 MMtpa.
The project follows the signing of a host government agreement between Cyprus and Egypt in February 2025 and the execution of commercial agreements covering offshore infrastructure access, gas transportation through Egypt, LNG processing at Damietta and LNG sales. By utilizing existing Egyptian infrastructure, the partners expect to accelerate development while reducing project costs and emissions intensity.
“We are delighted to launch this new project alongside Eni, with the support of the Cypriot and Egyptian governments,” said TotalEnergies Chairman and CEO Patrick Pouyanné. “This new gas route in the Mediterranean will contribute to Europe’s energy security by diversifying its sources of LNG supply.”
The partners also said the Cronos development could support future commercialization of additional gas resources discovered in Block 6 through future appraisal and development campaigns.
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