Cyprus cabinet approves development plans for natural gas fields

The Cypriot Council of Ministers officially approved the development and production plan for the Kronos natural gas field in Block 6 of the country's Exclusive Economic Zone. Operated by Eni and TotalEnergies, the field contains an estimated 2.5 to 3.4 trillion cubic feet (tcf) of gas, which will be transported via pipeline to Egypt's Idku or Damietta terminal for liquefaction and export. Additionally, the government authorized terms for the sale of gas from the Aphrodite field in Block 12, operated by a consortium including Chevron, BG, and NewMed Energy, with a final investment decision expected in 2027. Energy Minister Michael Damianos confirmed that these steps aim to bring the first Cypriot natural gas to markets by early 2028. While the government initially preferred distributing gas within the Egyptian domestic market, the operating consortium chose export routes via existing liquefaction infrastructure. President Nicos Christodoulides described the move as a historic shift toward becoming an energy producer. Furthermore, Cyprus is reportedly in advanced discussions with ExxonMobil regarding potential exploration in Block 4.