Cyprus could begin producing natural gas for export as early as 2028, according to Energy Minister Michael Damianos, potentially contributing to Europe’s efforts to diversify energy supplies amid growing concerns about regional stability.
In an interview with Reuters, Damianos said the government hopes gas from the offshore Cronos Gas Field could be brought online within the next few years.
“We hope to have gas by 2028,” he said.
The minister said the ongoing crisis in the Middle East underlined the need to develop gas resources outside the Gulf region.
“The crisis in the Middle East shows that we must utilise our reserves, particularly those located outside the Gulf,” he said. “You cannot depend on specific regions.”
Covering Cyprus' needs
He added that developing energy reserves in the Eastern Mediterranean should be a priority not only for Cyprus but also for the European Union.
Cyprus has discovered an estimated 15 to 18 trillion cubic feet of natural gas across six areas within its exclusive economic zone. However, development has progressed slowly, partly because the discoveries are located in different offshore blocks and require separate investment decisions.
The Cronos field, discovered by Eni and TotalEnergies, is estimated to hold just over three trillion cubic feet of gas - enough to meet Cyprus’ domestic needs for decades or support exports to regional markets.
The field is expected to be developed using existing infrastructure in Egypt, where the gas would be processed and liquefied before being exported, mainly to European markets.
Damianos said the possibility of constructing a liquefied natural gas terminal in Cyprus had not been ruled out, but would depend on larger discoveries in the future.
Power interconnection plans
Alongside gas development, Cyprus is also advancing major electricity infrastructure projects, including the planned Great Sea Interconnector linking Greece, Cyprus and Israel.
The undersea cable aims primarily to strengthen Cyprus’s energy system and reduce the island’s energy isolation from European electricity networks.
“It is a very important project in terms of security of energy supply,” the minister said.