People are photographing the drilling ship ‘Tungsten Explored’ in the southern coastal town of Larnaca, Cyprus, on November 3, 2021. AP/Petros Karadjias
As reported by Associated Press
The President of Cyprus, Nikos Christodoulides, stated that the natural gas discovered in waters off the island has a chance to supply European markets as early as 2027. This information was recently noted in publications, highlighting that the first tranche of around 20 trillion cubic feet could be exported through Cronos – a developing field co-developed by a consortium including Italy’s Eni and France’s TotalEnergies.
They expect the consortium to make a final decision on the project’s implementation as early as next year. It was also noted that Cronos gas could be routed to a processing plant in the Egyptian port city of Damietta for liquefaction and subsequent maritime delivery to European markets in 2027.
“Cyprus is part of energy solutions for energy security in the Eastern Mediterranean, and, as I already said, the important goal is to align your interests with those of powerful states and to act as an alternative energy corridor for Europe”
– Nikos Christodoulides
Prospects for the EU and Cyprus’s role in energy security
The European Union aims to reduce dependence on Russian gas and oil under the REPowerEU plan proposed in May 2022, with the goal of ending imports of these resources by 2027. The strategy includes diversifying supply and establishing a joint purchasing mechanism that will coordinate negotiations and sign contracts on behalf of the member states.
The European Commission is also considering legislative steps that will require member states to diversify gas and oil supplies further. In addition, the plan envisions a transition to renewable energy by 2030, with the aim of ensuring that 45% of the country’s energy comes from renewable sources.
The Slovak Republic and Hungary oppose REPowerEU: in July 2025 Slovakia blocked the adoption of the EU’s 18th sanctions package due to REPowerEU plans, citing risks to their economy and energy security.
Thus, Cyprus could become an important energy hub for Europe, offering new gas sources and supporting the EU’s strategy for energy independence and the transition to cleaner energy sources. The consortium’s further decisions and the EU’s regulatory steps will determine the real pace of implementing this scenario.
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