Exports of natural gas from the Kronos field, located offshore in the exclusive economic zone of the Republic of Cyprus, may begin at the end of 2027 or early 2028. This will happen provided that the remaining commercial and regulatory issues are resolved in the coming months. So said the chief operating officer of the Italian oil and gas company Eni
Guido Brusco after meeting with President Nikos Christodoulides in Nicosia.
Guido Brusco described the negotiations with the Cypriot leadership as “very constructive” and noted that, together with the President and Minister of Energy of the Republic of Cyprus, a clear schedule for completing all procedures was agreed upon. However, he emphasized that despite Eni's reputation as a company that is able to quickly implement projects, success depends on all sides of the process.
- It takes two to tango. We are at the very last stage. We have a few issues left to close, and we expect this to happen very soon,” said Guido Brusco, acknowledging the existence of delays.
Initially, negotiations and signing of all documents were planned to be completed by November 30, 2025. In fact, all the main interstate and commercial agreements necessary for the implementation of the project have already been agreed upon. However, the parties have not yet signed the final investment decision (FID). It is this document that launches the main stage of investment and construction.
Among the still unanswered questions
development and production plan gas purchase and sale agreement export volumes development zone boundaries gas pricing formula
According to an Eni representative, the timing for the start of gas production and export at the end of 2027 or beginning of 2028 is
realistic
, if all obligations are fulfilled on time.
Kronos is the first field that Cyprus is actually ready to bring to commercial production. President Nikos Christodoulides stated that he intends to agree on all outstanding issues regarding this field
by March 30, 2026
, since it is on these dates that the head of the Republic of Cyprus will take part in the energy forum in Egypt.
“This is the first development of gas fields in our exclusive economic zone. The project is extremely important for the country, the economy and its residents,” Christodoulides emphasized.
Previously, all projects on the Cypriot shelf remained at the discussion stage due to the lack of infrastructure and a guaranteed sales market. The key difference between Kronos is its connection to the existing gas infrastructure of Egypt. This reduces costs, speeds up start-up times and makes the project more commercially sustainable than alternatives such as building your own liquefied natural gas terminal.
Interest
to Cypriot gas
shows the European Union
, since it could become an additional source of energy for Europe. The consortium of Eni and Total has already
invested
at Kronos
$1.2 billion
at the exploration stage. Cyprus, the EU and the consortium are trying to change the rule
compulsory sale
on the Egyptian market
20%
gas
, arriving at Egyptian processing plants.
