Cypriot Cronos Natural Gas Field to be Connected to Egypt by 2027 - EGYP OIL & GAS

Sunday, 27th July 2025
Sarah Samir

Karim Badawi, the Minister of Petroleum and Mineral Resources, met with George Papanastasiou, Cypriot Minister of Energy, Commerce, and Industry, in Nicosia. Senior representatives from Eni and TotalEnergies also attended the meeting. The discussion focused on the progress of Cyprus’s Cronos natural gas field, which is scheduled to be linked to Egypt’s energy infrastructure by 2027.

Within the framework of the Steering Committee overseeing the development of Cyprus’s Cronos natural gas field, Egypt and Cyprus reiterated their commitment to the project’s agreed timelines. The committee further reviewed the status of the technical and implementation agreements, now in their final stages of preparation for a definitive investment decision expected this year.

Badawi stressed Egypt’s readiness to complete the project and establish a new regional energy corridor. He emphasized that this would enhance regional cooperation and benefit both countries. He also stressed Egypt’s commitment to removing any obstacles the project may encounter.

The President of the Republic of Cyprus held a videoconference with the Vice President of ExxonMobil - REPUBLIC OF CYPRUS PRESIDENCY

07/07/25 18:17  |  Press release  |  Energy, Commerce and Industry, Government Spokesperson, President of the Republic / Presidency

During today’s videoconference between the President of the Republic of Cyprus, Mr Nikos Christodoulides, and the Vice President of ExxonMobil, Mr John Ardill, in the presence of the Minister of Energy, Commerce and Industry of the Republic of Cyprus, Mr George Papanastasiou, and the Country Manager of ExxonMobil Cyprus, Mr Varnavas Theodossiou, President Christodoulides was briefed on the new natural gas discovery made at “Pegasus-1” well, in Block 10 of the Exclusive Economic Zone (EEZ) of the Republic of Cyprus.

The discovery follows the successful completion of drilling operations conducted by the consortium of ExxonMobil Exploration and Production Cyprus (Offshore) Limited (Operator) and QatarEnergy International E&P LLC.

TotalEnergies and ENI sign an agreement with Cyprus and Egypt for the export of Cyprus Block 6 gas through Egypt - TOTALENERGIES

02/17/2025

Paris/Cairo, February 17, 2025 – In the presence of President of Egypt Abdel Fattah El-Sisi and President of Cyprus Níkos Christodoulídis, TotalEnergies and ENI, partners in Cyprus offshore Block 6 (TotalEnergies 50%, ENI 50% operator), have signed today a Host Government Agreement (HGA) with the Arab Republic of Egypt and the Republic of Cyprus related to the development of Block 6 gas resources.

Signed during the Egypt Energy Show (EGYPES) with the Minister of Petroleum and Mineral Resources of the Arab Republic of Egypt, Karim Badawi, and the Minister of Energy, Commerce and Industry of the Republic of Cyprus, George Papanastasiou, this agreement is a key milestone towards the development of the Cronos gas field. Located in Cyprus Block 6, Cronos field was discovered in 2022 and successfully appraised in February 2024.

The agreement provides a framework allowing the Cronos gas to be processed in the existing Zohr facilities offshore Egypt and then liquefied in the Damietta LNG plant in Egypt, for export to European markets.

Following the signature of this agreement, the Block 6 partners will now proceed with the Cronos Development and Production Plan, in close collaboration with Cyprus authorities.

ExxonMobil launches 'promising' exploration well off Cyprus, President says - REUTERS

NICOSIA, Jan 24 (Reuters) - ExxonMobil (XOM.N) and Qatar Energy on Friday began exploratory drilling for natural gas in a prospect west of Cyprus, Cyprus President Nikos Christodoulides said on X.

The east Mediterranean has yielded some major gas discoveries in recent years, and a disruption in energy supplies from Russia after its 2022 invasion of Ukraine has sharpened Europe's attention on securing alternative sources of supply.

"Cyprus progresses exploration activities, aiming to be an alternative and reliable source of natural gas for the EU," Christodoulides wrote in his post.

He said drilling at the prospect, named Electra, got underway on Friday morning.

ExxonMobil executives have previously described Electra as 'highly promising'.

The company secured hydrocarbon exploration licences for Cyprus in 2017. Other multinationals in the region include U.S.'s Chevron (CVX.N), Italy's Eni (ENI.MI), and France's TotalEnergies (TTEF.PA).

Egypt and Eni-Total consortium to sign deal on processing Cypriot natural gas for export - ASSOCIATED PRESS

January 24, 2025
MENELAOS HADJICOSTIS

NICOSIA, Cyprus (AP) — Egypt and a consortium made up of energy companies Total of France and Italy’s Eni will next month sign a key agreement to transport natural gas from an undersea deposit inside Cypriot waters to Egypt where it will be liquefied and processed for export, officials said Friday.

Cypriot Energy Minister George Papanastasiou described the agreement as “most significant” because it allows the consortium to sort out all the technical details on how to get the gas from the Cronos gas deposit to Egyptian processing plants for liquefaction and eventual export to markets including Europe.

Papanastasiou said the Eni-Total consortium, which holds exploratory licenses for seven of 13 areas or blocks inside Cyprus’ offshore economic zone, will make a final decision on how it will extract and convey the gas before the summer this year.

A recent assessment indicates that Cronos is estimated to hold more than the Aphrodite deposit, the first major discovery inside Cypriot waters which is estimated to contain 4.2 trillion cubic feet of gas.

The so-called host-government agreement will be signed at Egypt’s energy summit that will be held between Feb. 17-19, said Egyptian Oil Minister Kadim Badawi, who met earlier with Cypriot President Nikos Christodoulides.

Cyprus issues Navtex for drilling in block 5 of EEZ - CYPRUS MAIL

Sunday 19 January | 17:18

Cyprus issued a Navtex on Sunday in relation to the start of drilling at the ‘Electra’ field, in bloc 5 of the Cypriot exclusive economic zone (EEZ).

According to the Joint Rescue Coordination Centre (JRCC), the Navtex came into force from January 19, until June 19, 2025 with the drillship VALARIS DS-9 conducting the operations.

Speaking to the Cyprus News Agency, Energy Minister George Papanastasiou, said that the VALARIS DS-9 drillship is in Block 5, confirming that the Navtex in question relates to drilling in Block 5 and specifically the ‘Electra’ field.

Papanastasiou reminded that EXXON MOBIL is active in Block 5 in a joint venture with Qatar Energy.

Asked if there is a timetable for the start of drilling, Papanastasiou said that this depends on the positioning of the drilling rig, which should be set at the right coordinates with the target being in the centre of the drill, which, according to the Energy Minister, also depends on the weather conditions.

Papanastasiou estimated that the timeframe stipulated in the issued Navtex for bloc 5 would not need to be exhausted. He added that the drilling results are expected to be known at the end of February, while an official announcement will be made at the end of March, following an evaluation, on the quantities of the deposit.

‘Energy giants from Gulf states’ interested in Cypriot natural gas - CYPRUS MAIL

15 November 2024

Tom Cleaver

“Energy giants from Gulf states” are interested in possibly drilling for natural gas in Cyprus’ Exclusive Economic Zone (EEZ), President Nikos Christodoulides said on Friday.

Addressing the Energy symposium in Nicosia, he said this interest constitutes a “vote of confidence in the prospects of Cyprus’ EEZ”.

He said work is “progressing intensively” regarding the ‘Aphrodite’ deposit in block 12, with Energy Minister George Papanastasiou having said last week that the revised plan for the deposit submitted by American corporation Chevron in September is now being “discussed at a technocratic level”.

On the matter of the ‘Kronos’ reservoir, he said Italian energy company Eni are expected to submit a development plan soon, and that he had held a telephone conversation with the company’s head Claudio Descalzi on Thursday.

Papanastasiou said last week that Eni is “fast tracking” the process.

“We expect this month or next for there to be a development and production plan” for the deposit in question, Papanastasiou said, adding that the gas from the ‘Kronos’ reservoir will also be taken to Egypt for liquefaction and subsequent export.

Cyprus approves electricity cable to link its power grid with Greece’s - AP

Updated 9:10 PM GMT+3, September 17, 2024
By MENELAOS HADJICOSTIS

NICOSIA, Cyprus (AP) — Cyprus has given the green light for construction of a 1.9 billion euro ($2.1 billion) undersea electricity cable linking its grid with Greece’s, aiming to sharply reduce electricity bills and end its energy isolation, the country’s energy minister said Tuesday.

Minister George Papanastasiou said the significance of the project is underscored by the European Union’s decision to fund it with the sum of 657 million euros ($735 million).

He said the Cypriot government will contribute 25 million euro ($27.8 million) annually over the five-year period of the 1,000 MW cable’s construction so that Cypriot taxpayers won’t see any hike to their electricity bills as part of their 63% share of building costs.

The total 125 million euro sum will be raised from revenues generated from the EU’s emission trading system.

Tech giants eye project in Cyprus - KATHIMERINI

26.06.2024

Major companies like Tesla and Samsung have expressed interest in developing a battery-based electricity storage system in Cyprus, according to Energy, Trade and Industry Minister George Papanastasiou. He announced on Tuesday that formal tenders for the 150-megawatt project will be issued in September.

Papanastasiou outlined the government’s strategy to lower electricity costs, which he termed essential for enhancing the country’s economic competitiveness. The strategy is built on three pillars to turn Cyprus into an energy hub.

The first pillar is the rapid establishment of a liquefied natural gas import terminal for power generation. This project is expected to reduce pollutants by 35-40% and lower electricity costs by cutting down on the annual production of 3 million tons of carbon dioxide.

Israel-Greece-Cyprus energy deal ‘top priority’ this year - JNS

March 28, 2024 / JNS
Etgar Lefkovits 

The three allies plan to link their electrical grids and cooperate on natural gas.

Finalizing a major energy deal that includes connecting the power grids of Israel, Greece and Cyprus and a possible future regional natural gas pipeline linking the eastern Mediterranean allies is a “top priority” for 2024, the Israeli and Cypriot energy ministers said on Wednesday.

The long-awaited accord, which was stalled by the nearly six-month-old war with Hamas in Gaza, will not include Turkey. Ankara has reemerged as one of Israel’s bitterest critics in the wake of the Israeli military campaign triggered by the Oct. 7 terrorist invasion.

The expected agreement comes amid burgeoning relations with both Cyprus and Greece, which have maintained support for Israel throughout the war, and close ties in a variety of fields including energy, defense, tourism, high-tech and cybersecurity.

“Cyprus is a regional ally, and cooperation in the field of energy holds great potential opportunities for both countries,” Israeli Energy Minister Eli Cohen said Wednesday as he hosted his Cypriot counterpart to finalize the accord.

Cypriot Minister of Energy, Commerce and Industry George Papanastasiou said, “Cyprus and Israel share a vision for the eastern Mediterranean with the countries looking at energy as a sector that can facilitate peace, stability and prosperity in the region.”

More natgas found as gas flares at Cronos-2 - FINANCIAL MIRROR

19 January 2024

Italian ENI’s exploration in the “Cronos-2” target within Block 6 of Cyprus’ exclusive economic zone (EEZ) appears to have yielded positive results, as gas flaring reported from the drilling site indicates the discovery of a natural gas reservoir.

According to the Cyprus News Agency, the occurrence of gas flaring is considered a clear indication of the presence of a natural gas deposit. The drilling activities at “Cronos-2” were conducted using the Transocean Barents floating rig, which is under lease by ENI, the operator of Block 6.

The discovery at “Cronos-2” marks the fourth successful find in Block 6, following the identification of “Zeus” with an estimated quantity of 2-3 trillion cubic feet, “Cronos-1” with an estimated quantity of 2.5 trillion cubic feet, and “Calypso.”

ENI characterised “Calypso” as a “promising discovery,” confirming the extension of the “Zohr-like play” within the Cypriot EEZ.

Two-week lifeline as ''Aphrodite'' negotiations extend amid deadlock - KNEWS

06 NOVEMBER 2023 - 08:29

With the deadline for Chevron's proposal on the "Aphrodite" reservoir set to expire on Sunday, November 5, negotiations between the Republic of Cyprus and the consortium of "12" (Chevron, Shell, NewMed) led by the American giant for the development of the reservoir seem to remain in a deadlock. The negotiations, which started last August after Nicosia rejected the development plan for the reservoir, have gone through several phases. However, the main differences persist regarding the Floating Production Unit (FPU) and various other economic aspects compared to the initial development plan submitted by the consortium in 2019, prior to Noble Energy's departure. Unless an unforeseen event occurs, a two-week extension to Chevron is expected to be granted, as the visit of Clay Neff, a high-ranking executive of the American company, to Nicosia, aimed to break the deadlock. Nevertheless, the negotiations and the firm stances of both sides do not bode well for any significant progress, leading to further delays in the Aphrodite project.

Cyprus, Chevron-led group extend talks over gas plan, minister says - REUTERS

September 29, 20238:56 PM GMT+3Updated 2 days ago

NICOSIA, Sept 29 (Reuters) - Cyprus and international energy companies led by Chevron (CVX.N) have agreed to extend talks on how to develop its Aphrodite offshore gas field amid progress in negotiations, its energy minister said on Friday.

"It is not a new negotiating round, it's an extension, because there is progress in the conversation," Energy Minister George Papanastasiou told Reuters, confirming a report in the authoritative Middle East Economic Survey (MEES) journal that talks would be extended to Nov. 5.

To avoid "working against the clock" in the negotiation, he said, "we extended it". "It was a mutual extension, the contract allowed any extra extension so this is what we did," he said.

"We believe that by Nov. 5, we will arrive to an agreement," he added.

Chevron did not immediately respond to a request for comment.

Nicosia disagreed with modifications proposed by Chevron and its partners earlier this year to a 2019 agreement to develop the estimated 3.5 trillion cubic foot (tcf) gas field, particularly a proposal to remove what Cyprus considers essential processing infrastructure on the sea surface.

US backs Chevron in dispute with Cyprus over giant gas field - REUTERS

September 2, 20234:42 AM GMT+8

By Ron Bousso, Timothy Gardner and Michele Kambas

LONDON, Sept 1 (Reuters) - Washington has weighed into a dispute between Cyprus and international companies led by Chevron over how to develop a giant offshore gas field, backing the U.S. company's plan to link it to neighbouring Egypt, two industry sources and a U.S. source said on Friday.

The Chevron-led (CVX.N) consortium proposed connecting the Aphrodite gas field via a subsea pipeline and existing infrastructure to Egypt, where the gas can be sold in the domestic market or liquefied and shipped to Europe, which has largely been cut off from Russian supplies.

Cypriot Energy Minister George Papanastasiou confirmed that the government had rejected the latest plan, which omitted a previous proposal to build a floating gas processing plant at the field which lies 160 kilometres (100 miles) southeast of Cyprus.

"The modification has been rejected. The expectation of the Republic of Cyprus is (that) the consortium honours what was mutually agreed by the parties in 2019," Papanastasiou told Reuters.

Cyprus rejects development plan for Chevron-led gas field - OFFSHORE TECHNOLOGY

August 28, 2023

Cyprus has rejected development plan submitted by a Chevron-led consortium for the Aphrodite gas field located in Block 12 of the exclusive economic zone of Cyprus, reported Bloomberg News citing the country’s Energy Minister Giorgos Papanastasiou.

The Aphrodite field, which was discovered in 2011, is located 160km south of Limassol and 30km northwest of the Leviathan field.

Without disclosing the reason for turning down the plan, Papanastasiou told the news agency that the project parties can now “enter into discussions to reach an agreement within a period of 30 days”, effective from 25 August 2023.

Chevron holds 35% stake in the field while other partners include Shell (35%) and Israel’s NewMed Energy (30%).

LNG terminal construction delayed until July 2024 - FINANCIAL MIRROR

12 AUGUST 2023
Kyriacos Kiliaris

The construction of the liquified natural gas terminal at Vasiliko, Limassol, has been pushed back until the end of July 2024, confirmed Energy Minister George Papanastasiou.

However, the minister argued that the development is a positive milestone for the project, as it offers a clear and definite timeframe for the first time.

In a telephone interview with the Financial Mirror, Energy Minister George Papanastasiou confirmed the Chinese-led consortium awarded the contract for the LNG terminal has unofficially filed a new timetable, promising to deliver the project by July 2024.

China Petroleum Pipeline Engineering Co (CPC) presented its latest work timetable to Cypriot officials three weeks ago.

It is the fourth time the Chinese-led consortium has pushed back the construction date. Initially, there were hopes of it being ready by early 2022.

It was back in December 2019 when Cyprus signed the contract with the consortium.

Aphrodite appraisal drill looks good - FINANCIAL MIRROR

17 JULY 2023

The drilling of an appraisal well at the offshore Aphrodite natural gas field was successfully completed with positive signs of undersea riches, said Energy Minister George Papanastasiou.

He told journalists Monday that the drilling of the A3 appraisal well was completed on July 13, and there were some initial but unofficial remarks.

He added that the appraisal well was drilled in the centre of the gas deposit to confirm natural gas quantities and quality after two previous appraisal drillings, one to the east and the other to the west.

Papanastasiou said there might be something newer, which will be evaluated, as regards the quality of the natural gas, “but it seems that it’s positive news”.

He said that while the drilling was confirmative, it was carried out at a depth which, with little intervention, could also be considered a development drilling.

Electricity cable needs power surge - FINANCIAL MIRROR

16 JULY 2023

With Nicosia hosting the trilateral meeting of heads of state on July 26, Cyprus, Greece, and Israel leaders will meet for the first time – two-re-elected and a newcomer.

Top on their agenda of common challenges will be energy, although cooperation on defence, water and regional conflicts will also be discussed, and relations with Turkey.

As a priority, Prime Minister Benjamin Netanyahu needs help to deal with Israel’s energy deficit, which is expected to hit rock bottom by 2025-2027 due to delays in bringing online new, efficient, and renewables-friendly power stations.

PM Kyriakos Mitsotakis will emphasise that Greece is pushing ahead with its Alexandroupolis energy hub and hopes natural gas flows from the eastern Mediterranean will transform it into a major player, in addition to the solar parks and wind farms mushrooming throughout the country.

Cyprus changes tack with plan for Mediterranean gas link to Israel - REUTERS

June 21, 20235:22 AM GMT+3
Michele Kambas

• Cyprus wants shorter gas pipeline to Israel
• Part of broader project to get EastMed gas to Europe fast
• New Cyprus government talking to Israel on plans
• Longer pipeline through Med 'challenging'

NICOSIA, June 20 (Reuters) - Cyprus hopes to develop plans for a pipeline linking it to Israel's east Mediterranean gas fields during talks which start next month, the island's top energy official told Reuters.

Proposals by the new centrist Cypriot government, which came to power in March, represent a markedly different approach to its predecessors in getting gas to Europe and other markets.

Minister: 2 major gas companies keen on Israel-Cyprus plan for pipeline, gas processing facility - THE ASSOCIATED PRESS

May 16, 2023
MENELAOS HADJICOSTIS

NICOSIA, Cyprus (AP) — Two major international oil and gas companies have so far expressed interest in Israeli-Cypriot plans to build a pipeline that would convey offshore natural gas from both countries to Cyprus where it would be liquefied for export by ship, a Cypriot official said Tuesday.

Energy Minister Giorgos Papanastasiou told The Associated Press in an interview that the plan will be pitched on May 29 to energy companies involved in hydrocarbon exploration off Cyprus’ southern coast and other firms involved in pipeline and gas processing plant manufacture.