Tom Cleaver
Cabinet on Tuesday approved the development and production plan for the Kronos gas field, which is located in Block 6 of Cyprus’ Exclusive Economic Zone (EEZ), with President Nikos Christodoulides stressing the importance of the plan’s approval ahead of the day’s cabinet meeting.
“Let me remind you that the first discovery in the Republic of Cyprus’ Exclusive Economic Zone was in 2011, and 15 years later, we are taking, I believe, the most important decision regarding the state of natural gas exploitation,” he said.
He added that in addition to the development and production plan, cabinet would also approve “the agreements concerning the basic terms of sale of Cypriot natural gas”.
“This is a very important development for the utilisation of our country’s energy resources. The goal is to sell the first Cypriot natural gas to Europe through Egypt in 2028 and we are approving all the relevant agreements,” he said.
