Cronos FID: Historic Milestone Sets Cyprus On Course For First Gas Production

31 Jul 2026 Issue: 69 / 31 By: Peter Stevenson

Eni and Total have taken FID at Cronos, marking the first offshore gas discovery in Cyprus to reach the milestone. The decision ends years of frustration for Nicosia, which is set to finally become a gas producer in 2028.

Cyprus’ gas sector has reached a critical milestone, with Eni and TotalEnergies taking a final investment decision (FID) to develop the 3.1tcf (gas in place) Cronos gas field. Ever since the Aphrodite field was discovered in 2011, Cyprus has aspired to become a gas producer, but as the obstacles mounted, the vision risked becoming a mirage.

Now, Cyprus has a clearly defined path to first gas in 2028. Discovered in 2022, Cronos will become the island’s first producing gas field in two years’ time, pioneering a path for others to follow. Minister of Energy Michael Damianos called it a “historic milestone” for Cyprus’ hydrocarbons program, adding that it paves the way for the commercialization of the country’s offshore gas resources. Eni CEO Claudio Descalzi described the project as “a concrete milestone in positioning Cyprus as a European gas producer and exporter.” (CONTINUED - 846 WORDS)