Eni, TotalEnergies sanction Cronos gas development offshore Cyprus
Why this news matters:
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Marks Cyprus' first gas development: If startup proceeds as planned in 2028, Cronos would be the first Cypriot gas field brought into commercial production.
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Leverages existing infrastructure to accelerate development: Rather than requiring a standalone LNG facility, the project will utilize Eni's Zohr processing facilities and Egypt's Damietta LNG plant, potentially reducing costs and shortening time to market.
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Could unlock further Eastern Mediterranean development: Cronos may serve as a template for commercializing nearby discoveries through shared regional infrastructure, reducing development costs and timelines.
Eni and partner TotalEnergies have taken FID on the deepwater Cronos gas field development in Block 6 offshore Cyprus.
The field was discovered in 2022, 185 km from the island’s southwest coast, and successfully appraised two years later via the Cronos-2 well, 160 km offshore.
The Eni-led partnership plans to transport production from four subsea wells by a new pipeline connecting to Eni’s deepwater Zohr facilities offshore Egypt, for processing.
From there, the gas would be transferred to and liquefied at the restarted Damietta LNG plant in northern Egypt for export as LNG to international markets, mainly in Europe.
By leveraging existing offshore processing and LNG infrastructure in Egypt, the partners can avoid building standalone export facilities, helping accelerate commercialization of the discovery.
The export route could strengthen Egypt's role as a regional gas-processing and LNG-export hub while providing European buyers with another source of Eastern Mediterranean gas supplies.
Assuming startup occurs in 2028 as planned, Cronos would become the first Cypriot gas field brought into commercial production. At peak, the development is expected to deliver about 500 MMcf/d.
The development could also provide a commercialization pathway for additional gas discoveries in Block 6, including Calypso and Zeus, potentially laying the groundwork for a broader offshore gas hub offshore Cyprus.
Eni CEO Claudio Descalzi said the Cronos fast-track initiative "marks a concrete milestone in positioning Cyprus as a European gas producer and exporter."
According to Eni, the development could help establish a regional gas hub in the Eastern Mediterranean through use of existing Egyptian infrastructure, while providing an additional source of gas for European consumers.
Through marketing its 50% share of the LNG volumes, equivalent to 1.4 MMmt/year, Eni expects to move closer to its target of exceeding 20 MMmt/year of LNG production globally by 2030.
TotalEnergies now expects to fulfil its own ambition of 60 MMmt/y by 2030.
About the Author
Jeremy Beckman
Staff Writer / Editor, Europe
Jeremy Beckman has been Editor Europe, Offshore since 1992. Prior to joining Offshore he was a freelance journalist for eight years, working for a variety of electronics, computing and scientific journals in the UK. He regularly writes news columns on trends and events both in the NW Europe offshore region and globally. He also writes features on developments and technology in exploration and production.