Eni launches execution phase of Cronos gas project in Cyprus
- Final Investment Decision for Cronos was taken on 28 July 2026.
- Gas initially in place is estimated at more than 3 trillion cubic feet (TCF).
- Project aims for a production plateau of up to 500 mmscf/d with start-up expected in H1 2028.
- Produced gas will be sent to Egypt for processing (including Zohr) and liquefaction at the Damietta LNG plant for export, mainly to Europe.
Contracts and execution
Eni has signed the main engineering, procurement, construction and drilling contracts for the development of the Cronos Project, marking the start of the execution phase. Awarded scopes include a Floating Control Unit, transportation and installations, offshore sealines, subsea production system, flexible lines, umbilicals, onshore line EPC and drilling rig services.
Resources and schedule
The project follows a Final Investment Decision reached on 28 July 2026. Cronos is based on gas resources estimated at more than 3 trillion cubic feet (TCF) initially in place and is expected to reach a production plateau of up to 500 million standard cubic feet per day (mmscf/d), with start-up expected in H1 2028.
Export route and integration
The development will use a fast-track approach leveraging regional integration and existing infrastructure. Gas produced from Cronos will be transported to Egypt, processed through existing facilities including the Zohr infrastructure, and liquefied at the Damietta LNG plant for export to international markets, primarily Europe.
Strategic and ownership context
Cronos is Eni's first development project in Cyprus and the Republic of Cyprus' first hydrocarbon development. Block 6 is operated by Eni with a 50% interest alongside partner TotalEnergies. Eni has been present in Cyprus since 2013 and also operates Block 8 while holding participating interests in Blocks 7 and 11.
Source: Eni