The agreement for the construction and installation of infrastructure for the development of the Cronos natural gas field in Block 6 of Cyprus’ Exclusive Economic Zone was signed at the Presidential Palace on Monday, with Eni describing the project as a strategic milestone for the country’s energy future.
‘Cronos is a strategic project: it is a demonstration of our execution in action,’ Eni Chief Operating Officer Guido Brusco said, noting that it combines exploration success, fast-track development, regional integration and the synergic use of existing infrastructure.
Brusco said the project is Eni’s first development project in Cyprus and marks the company’s commitment to becoming a long-term partner in the country’s energy future. He also described it as a historic milestone for Cyprus, as the country’s first hydrocarbon development project.
Energy, Commerce and Industry Minister, Michalis Damianos, said the importance of Cronos for Cyprus extends well beyond its estimated resources, significantly advancing efforts to convert offshore discoveries into concrete economic and strategic value.
Located in Block 6, the Cronos field is estimated to contain more than 3 trillion cubic feet of natural gas. The Final Investment Decision for its development was approved in July 2026, while first gas is targeted for 2028.
Under the project’s plan, the gas will be transported to Egypt for processing and liquefaction using existing facilities, including the Damietta LNG plant, before being exported primarily to Europe. The use of existing infrastructure is expected to reduce development time and costs.
Eni has been active in Cyprus since 2013 and operates Block 6, in which it holds a 50% interest alongside TotalEnergies.