Energy updates on Cyprus gas fields and regional cooperation

Cyprus Minister of Energy, Commerce and Industry Michalis Damianos announced that the ENI-TotalEnergies consortium is expected to reach a final investment decision (FID) for the Kronos gas field within June. Agreements approved by the Cabinet in May for this field are also scheduled for signing this month, supported by recent payments from the consortium. Regarding the Aphrodite field, preliminary gas sales agreements have been signed, while final agreements are anticipated in the coming months, preceding Chevron's FEED deadline in January 2027. Minister Damianos will travel to Washington next week for a 3+1 format meeting with representatives from Greece and Israel to discuss regional energy issues. Discussions also involve the US-backed Great Sea Interconnector project connecting Israel to Europe via Cyprus. Meanwhile, negotiations regarding the Ishai gas field dispute are ongoing, though no immediate resolution is expected.