Eni and TotalEnergies have taken a final investment decision on the Cronos gas project offshore Cyprus, with development planned by 2028.
Cronos is Eni’s first project in Cypriot waters to proceed towards production. The project is expected to reach a production rate of about 500 million standard cubic feet per day.
The development plan includes four subsea wells around 90 nm southwest of Cyprus. The wells will be connected by pipeline to the nearby Zohr field on the Egyptian side of the exclusive economic zone boundary.
The subsea tieback will cross the exclusive economic zones of Cyprus and Egypt. Gas from Cronos will be transported south for processing and liquefaction at the Damietta LNG terminal.
The Damietta facility, also known as SEGAS LNG, was closed from 2013 to 2021 because of insufficient gas supply. It has operated intermittently since 2023 as Egyptian domestic demand has regularly exceeded the supply available for export.
Under an earlier agreement, gas from Cronos is expected to support the restart of the Damietta plant. The volumes are expected to support about 2.8 million tonnes per annum of LNG export capacity.
The project will use existing gas processing infrastructure at Zohr and Damietta.
