Cyprus will begin supplying gas to Europe from the 'Kronos' field…
Cyprus will begin supplying gas to Europe from the 'Kronos' field starting in 2028.
Consensus
- Cyprus plans to start exporting natural gas to Europe from the 'Cronos' offshore field in March 2028.
- The gas will be transported via pipeline to Egypt's Zohr field.
- The project involves French company TotalEnergies and Italian company Eni as partners.
- The pipeline construction is expected to take up to 18 months.
- The gas will be liquefied in Egypt and shipped to Europe by tankers.
- The project is seen as an alternative energy source for Europe amid disruptions caused by conflicts in Ukraine and the Middle East.
- The pipeline construction is planned to begin in 2026.
Points of divergence
- The cost of transporting Cypriot gas to Egypt for liquefaction is estimated at around two billion dollars, which is half the cost of developing other Cypriot fields due to proximity to existing infrastructure. — vm
- The agreement includes the supply of over three trillion cubic feet (about 85 billion cubic meters) of gas to Europe, with approximately one-fifth going to Egypt's internal needs. — vm
- Cyprus's minister of energy, Mihalis Damianos, stated that the project's importance lies not in financial gain but in establishing Cyprus as a gas producer and securing its first gas shipment. — vm
- German Chancellor Friedrich Merz attributed Germany's energy crisis to the absence of Russian gas, and Russian official Kirill Dmitriev suggested Merz might be nostalgic for the 'Nord Stream' pipelines. — vm
Coverage (3 sources)
- AP: Cyprus plans to begin first supplies of its own gas to Europe from 2028 — Вечерняя Москва
- AP: Cyprus will start supplying gas to Europe from the 'Kronos' field starting in 2028 — Коммерсантъ
- Media learned about Cyprus plans to start gas supplies to other European countries — Вести