Nicosia, Cyprus. Cyprus expects a final investment decision on managing the Kronos gas field by the end of March, with plans to send first natural gas to Egypt in the first half of 2028 for processing and onward supply to the European market. Energy Minister Michael Damianos provided the update to the House energy committee on Tuesday.
Kronos timeline and export plans
Damianos said the latest discussions with ENI indicated a final investment decision by the end of March. He said natural gas was expected to reach Egypt through Zor by early 2028, with 100 per cent initially directed to the European market and later with Egypt keeping up to 20 per cent for its own use.
Replying to MPs’ questions, Damianos said Turkey had not obstructed works at Kronos.
Energy ministry officer Loukas Evgeniou said all discoveries in Cyprus’ exclusive economic zone were outside what he described as Turkey’s illegal demands.
Isai negotiations
Damianos said an Israeli delegation was in Cyprus on Tuesday and Wednesday for intensive negotiations aimed at closing a deal on the Isai natural gas deposit within the next two months.
Aphrodite project status
Energy ministry officer Achilleas Sotirelis said the pre-front-end engineering design phase had been concluded last February and Cyprus had entered detailed planning, which should be ready by the end of the year. He said the final investment decision for Aphrodite was expected in 2027.
Former energy minister George Papanastasiou said that under Noble Energy the project provided for a production unit and the promotion of dry natural gas to Egypt, and that this was confirmed with the new joint venture with Chevron in February 2025, which he said was moving fast.
Papanastasiou said the arrangement provides for a production unit at the site and a submarine pipeline to Egypt, which would use the natural gas from Aphrodite to supply its domestic market.
Prospects for domestic consumption in Cyprus
Asked by MPs about bringing natural gas for consumption in Cyprus, Sotirelis said this was not an attractive alternative for companies due to the small size of Cyprus’ market, while Egypt had a larger market and higher demand.
Papanastasiou said it would not have been viable to send Aphrodite natural gas to Cyprus alone and that sending it in two directions had not been discussed.
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