Final Decision on Cronos Field Expected in March

A final investment decision on the management of the Cronos gas field is planned for late March. This was announced by Cyprus Energy Minister Michalis Damianou during a meeting of the parliamentary energy committee.

According to him, the first delivery of natural gas to Egypt for processing is scheduled for the first half of 2028. Initially, the entire volume is planned to be sent to the European market; later, up to 20% could remain in Egypt for domestic consumption.

Regarding the Aphrodite field, ministry representative Achilleas Sotirelis stated that the preliminary design stage is complete, and a final investment decision is expected in 2027. The project involves installing a production platform and laying a subsea pipeline to Egypt.

According to ministry representatives, gas supplies to the Cypriot domestic market are not considered a priority due to its small volume. The agency also noted that Turkey did not interfere with work on Cronos, and all discoveries in Cyprus's exclusive economic zone are outside the claims made by Ankara.