Cyprus has moved into the implementation phase of the Kronos gas field project, with Italian energy company Eni planning to transport natural gas from the island’s exclusive economic zone (EEZ) to Egypt for processing and export, primarily to European markets.
The field is estimated to contain more than three trillion cubic feet (TCF) of natural gas, with production expected to reach up to 500 million cubic feet per day at a stable production rate.
The announcement was made on Monday, October 26, 2026, at a ceremony attended by President Nikos Christodoulides, representatives of the governments of Cyprus, Egypt, Italy and France, and companies involved in the project.
Kronos gas field holds more than 3 TCF
Eni’s Chief Operating Officer for Global Natural Resources, Guido Brusco, described the move as a historic milestone for Cyprus, calling Kronos the country’s first hydrocarbon development project.
Brusco said the field is expected to reach a stable production rate of up to 500 million cubic feet of natural gas per day.
The project marks a new phase in Cyprus’ efforts to develop its offshore gas resources and bring them to international markets.
How Cyprus gas will reach Europe
Under the development plan, natural gas extracted from the Kronos field will be transported to Egypt, where it will be processed using existing infrastructure, including facilities associated with the Zohr gas field.
The gas will then be sent to the Damietta liquefied natural gas (LNG) plant for export to international markets, with Europe expected to be the main destination.
The plan relies on existing Egyptian energy infrastructure to support the commercial development of Cyprus’s gas resources through regional cooperation.
A new onshore pipeline connecting Zohr with Damietta will form part of the transportation network.
Eni calls project a historic milestone for Cyprus
Brusco said Eni had been active in Cyprus since 2013, investing more than a decade in expertise, personnel and technological capabilities.
He credited cooperation between the Republic of Cyprus, Egypt, Eni and TotalEnergies for bringing the project to its implementation phase.
Brusco described Cronos as Eni’s first development project in Cyprus and said it reflected the company’s commitment to becoming a long-term partner in the country’s energy future.
He added that the project would open a new chapter for Cyprus’s energy industry.
European energy security in focus
Brusco highlighted the project’s potential significance for European energy security at a time when reliable and affordable energy supplies remain a key international concern.
He said the development would bring additional natural gas produced by European energy companies to markets, primarily in Europe.
Eni says the project could contribute to secure and affordable energy supplies by making use of existing infrastructure rather than requiring an entirely new export route.
Which companies are involved in the project?
Several international contractors have been assigned responsibilities for the engineering, construction and installation work.
- Baker Hughes will handle the design, procurement and construction of subsea production systems, including associated equipment and control systems.
- CMHI (China Merchants Heavy Industry) will be responsible for the floating control unit, including its design, procurement, construction, transportation and installation.
- Dalmine will supply subsea gas export and monoethylene glycol (MEG) pipelines.
- TechnipFMC Subsea France will design, procure and manufacture flexible gas production pipelines.
- McDermott will carry out major offshore work, including the transportation, installation and connection of subsea pipelines and equipment.
- Oceaneering International will manufacture the main subsea cables and control systems.
- Petrojet will construct the new onshore gas pipeline connecting Zohr with Damietta.
- Saipem will provide drilling services using the Saipem 10000 drillship.
The companies will carry out different parts of the project, from subsea production infrastructure to drilling and the facilities needed to transport gas for export.
Cyprus and Egypt cooperation central to development
Brusco thanked the Republic of Cyprus and its institutions for their cooperation and continued support.
He also highlighted Egypt’s contribution, saying cooperation between the two countries had established a viable route for the commercial development of the Kronos gas field.
He said the implementation phase would involve complex engineering work requiring specialist expertise, close coordination and strict safety standards.
Also read: Fuel prices in Cyprus could rise if oil stays at $110
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