Cyprus approved the Development and Production Plan for the Kronos gas field on Tuesday, in what President Nikos Christodoulides described as a landmark step in the country’s energy strategy.
Speaking at the start of the Cabinet meeting at the Presidential Palace, the President said the decision marks the most significant development since the first natural gas discovery in Cyprus’ Exclusive Economic Zone in 2011.
First gas exports targeted for 2028
Christodoulides said the Cabinet also approved agreements covering the main terms for the sale of Cypriot natural gas.
“The goal is for the first Cypriot natural gas to be sold to Europe through Egypt in 2028,” he stated.
He described the move as a major milestone in the utilisation of Cyprus’ energy resources and said all related agreements were approved by the government.
Further announcements expected with Exxon
Referring to wider energy developments, the President said additional announcements are expected soon in cooperation with Exxon.
“We are in advanced discussions and very soon we will be in a position to announce the next specific steps,” he added.
Energy plans remain government priority
The government has repeatedly highlighted energy development as a strategic priority aimed at strengthening Cyprus’ role in the Eastern Mediterranean energy sector.
The Kronos gas field forms part of broader efforts to commercialise offshore natural gas reserves and enhance regional energy cooperation.
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