Philenews

ENI: Gas Exports from 'Cronus' Expected by Late 2027

Published January 8, 2026, 14:22
ENI: Gas Exports from 'Cronus' Expected by Late 2027

ENI estimates that gas exports from the 'Cronus' field in Cyprus to Egypt could begin in late 2027 or early 2028, provided that the necessary procedures for the final investment decision are completed on time. ENI's Chief Operating Officer, Guido Brusco, described talks with the Cypriot government as constructive, emphasizing that the project is at the final stage before the investment is finalized. President Christodoulides stated that Cyprus aims to complete all outstanding issues by March 30th, ahead of his participation in an energy forum in Cairo. The 'Cronus' field is considered strategically important not only for Cyprus but also for Egypt and Europe, as it represents the first development of a gas field in the Cypriot EEZ. The Egyptian government has expressed its intention to consider flexibility regarding the 20% clause, which concerns the mandatory allocation of part of the natural gas to the Egyptian market, although a final decision has not been made. Energy Minister Michalis Damianou expressed satisfaction with the progress of negotiations, noting that the project is evolving according to agreed timelines. The goal is to start gas exports for the benefit of Cyprus, Europe and the wider region. The completion of the 'Cronus' project is expected to contribute to the energy security of the region and the economic development of Cyprus. The successful outcome of the negotiations and the timely final investment decision are crucial for the implementation of the project and the achievement of strategic goals.