Nicosia, Cyprus. The next two years will be decisive for Cyprus’ energy strategy as the country moves from natural gas discoveries towards production, Energy Minister Michael Damianos said on Wednesday. He said the Kronos field is expected to begin production in 2028 as Cyprus’ first commercial gas project.
Energy policy and regional cooperation
Speaking at the World Congress of Overseas Cypriots in Nicosia, Damianos said Cyprus had reached a pivotal point in its energy journey, with developments in the eastern Mediterranean presenting challenges and opportunities.
He said that, amid heightened geopolitical uncertainty, energy had become a key factor in economic development, regional cooperation and strategic security. Cyprus continued to pursue a consistent and multidimensional energy policy aimed at lowering energy costs, strengthening security of supply and using domestic resources.
Damianos highlighted the 3+1 energy partnership involving Cyprus, Greece, Israel and the United States as an increasingly important platform for political and technical cooperation. He said the framework now covered renewable energy, electricity interconnections, new technologies and energy innovation, in addition to hydrocarbons.
US meetings and cooperation roadmap
Referring to a recent ministerial meeting of the 3+1 partners in Houston, Damianos said the four countries had agreed to develop a cooperation roadmap expected to be approved later this year.
He also welcomed the launch of the Eastern Mediterranean Energy Centre at Rice University’s Baker Institute, describing it as a hub for cooperation among governments, academia and the energy industry.
Recent meetings in the United States with US Energy Secretary Chris Wright and White House National Energy Dominance Council executive director Jarrod Agen confirmed momentum in Cyprus-US energy relations, he said. The discussions focused on energy security and expanding strategic cooperation.
Kronos development
Cyprus has recorded six gas discoveries in its exclusive economic zone over the past 15 years, with estimated reserves of about 20 trillion cubic feet, Damianos said.
The Kronos field in Block 6 has entered its most advanced phase after Italian energy company Eni and France’s TotalEnergies announced their final investment decision on Tuesday. The cabinet approved the field’s development plan in May and granted an exploitation licence in June.
Production is expected to begin in 2028. Natural gas from Kronos will be transported by subsea pipeline to Egypt’s Zohr facilities, then liquefied at the Damietta LNG plant for export, mainly to European markets.
Aphrodite timetable
Chevron, NewMed Energy and BG Cyprus are expected to take a final investment decision on the Aphrodite field in Block 12 in 2027, Damianos said. Production from the field is planned for the early 2030s.
